Marco Investment Management LLC Takes $217,000 Position in RBC Bearings Incorporated (NYSE:RBC)

Marco Investment Management LLC bought a new position in RBC Bearings Incorporated (NYSE:RBC) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 760 shares of the industrial products company’s stock, valued at approximately $217,000.

A number of other large investors have also recently modified their holdings of RBC. Portside Wealth Group LLC lifted its position in RBC Bearings by 4.8% during the third quarter. Portside Wealth Group LLC now owns 1,104 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 51 shares during the last quarter. Fifth Third Bancorp increased its holdings in RBC Bearings by 14.3% in the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company’s stock valued at $99,000 after purchasing an additional 53 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of RBC Bearings by 2.1% in the fourth quarter. Bleakley Financial Group LLC now owns 3,197 shares of the industrial products company’s stock worth $911,000 after acquiring an additional 66 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in RBC Bearings by 0.6% in the third quarter. Treasurer of the State of North Carolina now owns 12,420 shares of the industrial products company’s stock valued at $2,908,000 after acquiring an additional 70 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its holdings in shares of RBC Bearings by 2.2% in the third quarter. SkyView Investment Advisors LLC now owns 3,249 shares of the industrial products company’s stock valued at $761,000 after buying an additional 71 shares during the last quarter.

RBC Bearings Trading Up 0.3 %

RBC opened at $245.03 on Monday. The company has a quick ratio of 1.12, a current ratio of 3.28 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $262.59 and its 200-day moving average is $258.76. The firm has a market capitalization of $6.90 billion, a P/E ratio of 40.97, a P/E/G ratio of 4.66 and a beta of 1.45. RBC Bearings Incorporated has a 52-week low of $195.18 and a 52-week high of $288.16.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data 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). RBC Bearings had a net margin of 12.81% and a return on equity of 9.64%. The firm had revenue of $373.91 million for the quarter, compared to analysts’ expectations of $376.61 million. Analysts expect that RBC Bearings Incorporated will post 8.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Daniel A. Bergeron sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $267.22, for a total value of $4,008,300.00. Following the completion of the sale, 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 at this link. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

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

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.