Next Century Growth Investors LLC Sells 12,340 Shares of RBC Bearings Incorporated $RBC

Next Century Growth Investors LLC trimmed its position in RBC Bearings Incorporated (NYSE:RBC) by 25.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 36,764 shares of the industrial products company’s stock after selling 12,340 shares during the period. Next Century Growth Investors LLC’s holdings in RBC Bearings were worth $16,486,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Comerica Bank grew its position in RBC Bearings by 19.5% in the 4th quarter. Comerica Bank now owns 90,283 shares of the industrial products company’s stock worth $40,486,000 after purchasing an additional 14,747 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in RBC Bearings by 263.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,737 shares of the industrial products company’s stock worth $1,788,000 after purchasing an additional 2,709 shares in the last quarter. Faithward Advisors LLC bought a new stake in RBC Bearings in the 3rd quarter worth about $2,826,000. DNB Asset Management AS grew its position in RBC Bearings by 91.6% in the 3rd quarter. DNB Asset Management AS now owns 6,987 shares of the industrial products company’s stock worth $2,727,000 after purchasing an additional 3,340 shares in the last quarter. Finally, First Trust Advisors LP grew its position in RBC Bearings by 36.4% in the 3rd quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company’s stock worth $137,669,000 after purchasing an additional 94,203 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RBC shares. Weiss Ratings raised shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Wall Street Zen raised shares of RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Morgan Stanley boosted their target price on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Finally, KeyCorp boosted their target price on shares of RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, RBC Bearings has an average rating of “Moderate Buy” and a consensus target price of $584.00.

RBC Bearings Stock Performance

Shares of RBC stock opened at $603.22 on Friday. The stock has a market capitalization of $19.09 billion, a P/E ratio of 66.36, a PEG ratio of 3.49 and a beta of 1.42. The company has a current ratio of 2.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $586.12 and its 200 day moving average is $533.61. RBC Bearings Incorporated has a 12 month low of $363.05 and a 12 month high of $632.00.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. The company had revenue of $518.00 million for the quarter, compared to analysts’ expectations of $505.90 million. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. RBC Bearings’s revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.83 EPS. On average, sell-side analysts anticipate that RBC Bearings Incorporated will post 13.58 earnings per share for the current year.

Insider Activity at RBC Bearings

In related news, Director Edward Stewart sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total transaction of $355,698.00. Following the sale, the director directly owned 21,337 shares in the company, valued at approximately $12,649,213.71. This represents a 2.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.