Everpar Advisors LLC Buys Shares of 1,346 RBC Bearings Incorporated (NYSE:RBC)

Everpar Advisors LLC bought a new stake in RBC Bearings Incorporated (NYSE:RBC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,346 shares of the industrial products company’s stock, valued at approximately $383,000.

Other hedge funds have also recently made changes to their positions in the company. Lisanti Capital Growth LLC raised its stake in shares of RBC Bearings by 89.2% in the fourth quarter. Lisanti Capital Growth LLC now owns 14,385 shares of the industrial products company’s stock valued at $4,098,000 after buying an additional 6,780 shares during the period. Louisiana State Employees Retirement System bought a new position in RBC Bearings in the 4th quarter worth about $2,336,000. State of Michigan Retirement System bought a new position in RBC Bearings in the 3rd quarter worth about $1,615,000. Dark Forest Capital Management LP bought a new position in RBC Bearings in the 3rd quarter worth about $512,000. Finally, Securian Asset Management Inc. bought a new position in RBC Bearings in the 3rd quarter worth about $576,000.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citigroup raised their target price on RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Truist Financial boosted their price target on shares of RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $275.86.

Insider Transactions at RBC Bearings

In related news, COO Daniel A. Bergeron sold 15,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total transaction of $4,008,300.00. Following the transaction, the chief operating officer now owns 121,935 shares of the company’s stock, valued at approximately $32,583,470.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.90% of the company’s stock.

RBC Bearings Price Performance

Shares of RBC Bearings stock traded up $2.82 on Wednesday, hitting $264.36. 179,498 shares of the company traded hands, compared to its average volume of 127,617. RBC Bearings Incorporated has a 12-month low of $195.18 and a 12-month high of $288.16. The firm’s 50-day simple moving average is $259.96 and its 200 day simple moving average is $259.67. The company has a market cap of $7.45 billion, a P/E ratio of 44.21, a P/E/G ratio of 4.76 and a beta of 1.46. The company has a current ratio of 3.28, a quick ratio of 1.12 and a debt-to-equity ratio of 0.47.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.08). The firm had revenue of $373.91 million for the quarter, compared to the consensus estimate of $376.61 million. RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. Analysts expect that RBC Bearings Incorporated will post 8.02 earnings per share for the current fiscal year.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.