Whittier Trust Co. of Nevada Inc. Grows Position in RBC Bearings Incorporated $RBC

Whittier Trust Co. of Nevada Inc. grew its stake in RBC Bearings Incorporated (NYSE:RBC) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,020 shares of the industrial products company’s stock after purchasing an additional 1,002 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in RBC Bearings were worth $11,936,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RBC. Advisors Asset Management Inc. purchased a new stake in RBC Bearings in the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC boosted its position in RBC Bearings by 107.1% in the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 136 shares in the last quarter. SVB Wealth LLC purchased a new stake in RBC Bearings in the 1st quarter worth approximately $111,000. IFP Advisors Inc boosted its position in RBC Bearings by 51.6% in the 2nd quarter. IFP Advisors Inc now owns 291 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 99 shares in the last quarter. Finally, Harbor Investment Advisory LLC raised its stake in shares of RBC Bearings by 19.8% during the 2nd quarter. Harbor Investment Advisory LLC now owns 327 shares of the industrial products company’s stock worth $126,000 after buying an additional 54 shares during the period.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, VP John J. Feeney sold 105 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $382.83, for a total value of $40,197.15. Following the completion of the sale, the vice president directly owned 2,666 shares of the company’s stock, valued at $1,020,624.78. This trade represents a 3.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Daniel A. Bergeron sold 48,743 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $402.75, for a total value of $19,631,243.25. Following the completion of the sale, the chief operating officer directly owned 111,134 shares of the company’s stock, valued at $44,759,218.50. This trade represents a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RBC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RBC Bearings in a research note on Wednesday, October 8th. KeyCorp upped their target price on RBC Bearings from $405.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Truist Financial upped their target price on RBC Bearings from $431.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. Zacks Research downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, The Goldman Sachs Group upped their target price on RBC Bearings from $375.00 to $416.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $429.00.

RBC Bearings Stock Up 4.0%

NYSE RBC opened at $387.89 on Tuesday. The business has a fifty day moving average price of $385.80 and a 200 day moving average price of $372.48. RBC Bearings Incorporated has a one year low of $272.50 and a one year high of $416.33. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33. The company has a market cap of $12.24 billion, a P/E ratio of 48.85, a P/E/G ratio of 2.88 and a beta of 1.71.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The firm had revenue of $156.21 million during the quarter. Research analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

RBC Bearings Company Profile

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.