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Nov 02, 2024

Conestoga Capital Advisors LLC Buys 12,375 Shares of RBC Bearings Incorporated (NYSE:RBC)

Conestoga Capital Advisors LLC raised its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.7% in the third quarter, according to the company in its most recent disclosure

Conestoga Capital Advisors LLC raised its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 740,842 shares of the industrial products company's stock after acquiring an additional 12,375 shares during the quarter. RBC Bearings makes up 3.0% of Conestoga Capital Advisors LLC's portfolio, making the stock its 12th largest holding. Conestoga Capital Advisors LLC owned about 2.53% of RBC Bearings worth $221,793,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company's stock worth $28,000 after purchasing an additional 75 shares in the last quarter. DT Investment Partners LLC acquired a new position in RBC Bearings during the 2nd quarter worth about $35,000. Opal Wealth Advisors LLC bought a new stake in RBC Bearings during the 2nd quarter worth about $41,000. Canada Pension Plan Investment Board bought a new stake in RBC Bearings during the 2nd quarter worth about $54,000. Finally, Strategic Financial Concepts LLC acquired a new stake in RBC Bearings in the 2nd quarter valued at about $68,000.

Separately, Truist Financial decreased their price target on shares of RBC Bearings from $328.00 to $315.00 and set a "buy" rating on the stock in a research note on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, RBC Bearings currently has a consensus rating of "Moderate Buy" and an average target price of $287.67.

Get Our Latest Stock Analysis on RBC

Shares of NYSE RBC traded up $2.48 during mid-day trading on Friday, hitting $282.83. The company's stock had a trading volume of 40,429 shares, compared to its average volume of 142,046. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.01 and a quick ratio of 1.09. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 41.35, a price-to-earnings-growth ratio of 3.28 and a beta of 1.51. The company's fifty day simple moving average is $290.28 and its 200-day simple moving average is $280.89. RBC Bearings Incorporated has a one year low of $214.64 and a one year high of $309.01.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.10 by $0.19. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. The firm had revenue of $397.90 million for the quarter, compared to analysts' expectations of $403.89 million. During the same period last year, the firm earned $2.07 earnings per share. The business's revenue for the quarter was up 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that RBC Bearings Incorporated will post 8.95 earnings per share for the current fiscal year.

In other news, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the transaction, the vice president now owns 12,539 shares in the company, valued at $3,669,789.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Richard J. Edwards sold 4,200 shares of the firm's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the sale, the vice president now directly owns 12,539 shares in the company, valued at $3,669,789.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Hartnett sold 503 shares of the company's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total transaction of $145,367.00. Following the completion of the transaction, the chief executive officer now directly owns 322,588 shares of the company's stock, valued at approximately $93,227,932. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,327 shares of company stock valued at $11,900,641. Company insiders own 2.60% of the company's stock.

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems 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.

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