Jane Street Group LLC Has $4.95 Million Position in RBC Bearings Incorporated (NYSE:RBC)

Jane Street Group LLC raised its position in RBC Bearings Incorporated (NYSE:RBC) by 18.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,536 shares of the industrial products company’s stock after buying an additional 2,584 shares during the quarter. Jane Street Group LLC owned 0.05% of RBC Bearings worth $4,951,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RBC. UMB Bank n.a. grew its stake in shares of RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 75 shares in the last quarter. DT Investment Partners LLC bought a new stake in RBC Bearings in the 2nd quarter valued at about $35,000. Canada Pension Plan Investment Board bought a new position in shares of RBC Bearings during the second quarter worth approximately $54,000. Strategic Financial Concepts LLC acquired a new stake in shares of RBC Bearings in the second quarter valued at approximately $68,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of RBC Bearings by 80.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock valued at $78,000 after buying an additional 129 shares during the period.

Insider Activity

In other news, CEO Michael J. Hartnett sold 503 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total transaction of $145,367.00. Following the sale, the chief executive officer now directly owns 322,588 shares in the company, valued at approximately $93,227,932. The trade was a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.60% of the stock is owned by corporate insiders.

RBC Bearings Stock Down 0.4 %

Shares of NYSE RBC opened at $326.37 on Tuesday. The company has a market cap of $10.25 billion, a price-to-earnings ratio of 47.65, a PEG ratio of 4.50 and a beta of 1.55. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $346.77. The stock has a 50-day moving average price of $310.35 and a two-hundred day moving average price of $294.41.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same quarter in the prior year, the company earned $2.07 earnings per share. RBC Bearings’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, analysts forecast that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial lifted their price objective on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target for the company in a research note on Friday, November 22nd. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $324.67.

About RBC Bearings

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.