Davis R M Inc. lowered its stake in shares of RBC Bearings Incorporated (NYSE:RBC – Free Report) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,028 shares of the industrial products company’s stock after selling 2,652 shares during the quarter. Davis R M Inc.’s holdings in RBC Bearings were worth $11,967,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. American Century Companies Inc. increased its holdings in shares of RBC Bearings by 16.1% in the 1st quarter. American Century Companies Inc. now owns 2,786 shares of the industrial products company’s stock valued at $540,000 after acquiring an additional 387 shares during the last quarter. HighTower Advisors LLC increased its stake in RBC Bearings by 6.8% during the first quarter. HighTower Advisors LLC now owns 7,920 shares of the industrial products company’s stock valued at $1,545,000 after purchasing an additional 501 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of RBC Bearings by 12.8% during the first quarter. Private Advisor Group LLC now owns 3,303 shares of the industrial products company’s stock worth $641,000 after purchasing an additional 375 shares during the period. MetLife Investment Management LLC lifted its position in shares of RBC Bearings by 53.4% in the 1st quarter. MetLife Investment Management LLC now owns 14,826 shares of the industrial products company’s stock worth $2,874,000 after buying an additional 5,159 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of RBC Bearings by 1.6% in the 1st quarter. BlackRock Inc. now owns 2,145,334 shares of the industrial products company’s stock valued at $415,937,000 after buying an additional 33,956 shares during the period.
Analyst Ratings Changes
RBC has been the topic of a number of research reports. Truist Financial dropped their price target on RBC Bearings from $275.00 to $271.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. Morgan Stanley boosted their price target on shares of RBC Bearings from $286.00 to $294.00 and gave the company an “overweight” rating in a report on Wednesday, August 9th. Wells Fargo & Company increased their price objective on shares of RBC Bearings from $235.00 to $240.00 and gave the stock an “equal weight” rating in a report on Monday, November 13th. Citigroup boosted their target price on shares of RBC Bearings from $240.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, September 27th. Finally, Royal Bank of Canada raised RBC Bearings from a “neutral” rating to an “overweight” rating in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $263.40.
Insider Buying and Selling
In related news, Director Steven H. Kaplan sold 2,000 shares of RBC Bearings stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $228.15, for a total value of $456,300.00. Following the transaction, the director now owns 5,900 shares of the company’s stock, valued at approximately $1,346,085. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Steven H. Kaplan sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $228.15, for a total value of $456,300.00. Following the transaction, the director now owns 5,900 shares in the company, valued at approximately $1,346,085. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard J. Edwards sold 880 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $239.74, for a total transaction of $210,971.20. Following the completion of the sale, the vice president now directly owns 12,220 shares of the company’s stock, valued at $2,929,622.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,380 shares of company stock worth $4,441,356. Corporate insiders own 2.90% of the company’s stock.
RBC Bearings Stock Down 0.6 %
Shares of RBC stock opened at $241.21 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 3.25. The stock has a market cap of $7.02 billion, a PE ratio of 42.77, a price-to-earnings-growth ratio of 4.99 and a beta of 1.42. The business’s fifty day moving average is $231.71 and its 200-day moving average is $223.67. RBC Bearings Incorporated has a 1 year low of $195.18 and a 1 year high of $254.50.
RBC Bearings (NYSE:RBC – Get Free Report) last issued its quarterly earnings results on Thursday, November 9th. The industrial products company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.91 by $0.16. RBC Bearings had a net margin of 12.32% and a return on equity of 9.62%. The firm had revenue of $385.57 million for the quarter, compared to analysts’ expectations of $390.18 million. Equities analysts expect that RBC Bearings Incorporated will post 8.2 earnings per share for the current fiscal year.
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.
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