RBC Bearings Incorporated $RBC Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its stake in RBC Bearings Incorporated (NYSE:RBC) by 11.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 400,602 shares of the industrial products company’s stock after selling 50,475 shares during the quarter. Clearbridge Investments LLC’s holdings in RBC Bearings were worth $179,642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of RBC. Advisors Asset Management Inc. acquired a new stake in RBC Bearings in the 1st quarter valued at about $26,000. AQR Capital Management LLC lifted its holdings in RBC Bearings by 27.8% in the 1st quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock valued at $417,000 after acquiring an additional 282 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in RBC Bearings by 32.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock valued at $395,000 after acquiring an additional 303 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in RBC Bearings by 64.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 434 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in RBC Bearings by 2.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock valued at $68,133,000 after acquiring an additional 4,253 shares during the last quarter.

Analysts Set New Price Targets

RBC has been the subject of a number of research analyst reports. Weiss Ratings raised shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Wall Street Zen upgraded RBC Bearings from a “hold” rating to a “buy” rating in a report on Saturday. KeyCorp boosted their price objective on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Zacks Research downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $542.00 price objective on shares of RBC Bearings in a report on Monday, February 9th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, RBC Bearings has an average rating of “Moderate Buy” and an average price target of $584.00.

RBC Bearings Trading Up 0.2%

NYSE:RBC opened at $591.56 on Monday. The stock’s 50 day moving average price is $580.62 and its 200 day moving average price is $528.44. RBC Bearings Incorporated has a 52 week low of $363.05 and a 52 week high of $632.00. The company has a market capitalization of $18.72 billion, a P/E ratio of 65.08, a P/E/G ratio of 3.41 and a beta of 1.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18.

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

Insider Transactions at RBC Bearings

In other RBC Bearings news, Director Edward Stewart sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total transaction of $355,698.00. Following the completion of the sale, the director owned 21,337 shares of the company’s stock, valued at $12,649,213.71. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by insiders.

About RBC Bearings

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.