Geneva Capital Management LLC Purchases 2,668 Shares of RBC Bearings Incorporated (NYSE:RBC)

Geneva Capital Management LLC increased its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 585,988 shares of the industrial products company’s stock after buying an additional 2,668 shares during the quarter. RBC Bearings comprises approximately 3.2% of Geneva Capital Management LLC’s portfolio, making the stock its 2nd largest position. Geneva Capital Management LLC owned about 2.02% of RBC Bearings worth $166,942,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RBC. LWM Advisory Services LLC purchased a new stake in RBC Bearings during the 3rd quarter worth approximately $31,000. Operose Advisors LLC purchased a new stake in shares of RBC Bearings during the 3rd quarter worth approximately $45,000. GAMMA Investing LLC acquired a new stake in RBC Bearings in the 4th quarter valued at about $66,000. RiverPark Advisors LLC acquired a new position in shares of RBC Bearings in the third quarter worth $69,000. Finally, Fifth Third Bancorp boosted its position in RBC Bearings by 14.3% during the third quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company’s stock worth $99,000 after acquiring an additional 53 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Insider Transactions at RBC Bearings

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

RBC Bearings Price Performance

Shares of RBC traded up $3.64 during mid-day trading on Thursday, reaching $268.15. The stock had a trading volume of 98,708 shares, compared to its average volume of 127,297. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.12 and a current ratio of 3.28. The business has a fifty day moving average of $259.72 and a 200 day moving average of $259.70. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 44.21, a PEG ratio of 4.76 and a beta of 1.46. RBC Bearings Incorporated has a 12 month low of $195.18 and a 12 month high of $288.16.

RBC Bearings (NYSE:RBC) last announced its earnings results on Thursday, February 8th. The industrial products company reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). The firm had revenue of $373.91 million during 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%. Equities analysts predict that RBC Bearings Incorporated will post 8.02 EPS for the current year.

About RBC Bearings

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.