RBC Bearings Incorporated $RBC Shares Sold by Whittier Trust Co.

Whittier Trust Co. cut its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 4.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,528 shares of the industrial products company’s stock after selling 2,944 shares during the quarter. Whittier Trust Co.’s holdings in RBC Bearings were worth $31,778,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Advisors Asset Management Inc. purchased a new position in shares of RBC Bearings during the 1st quarter valued at approximately $26,000. SBI Securities Co. Ltd. grew its position in shares of RBC Bearings by 106.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after buying an additional 33 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of RBC Bearings by 148.5% in the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after buying an additional 49 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of RBC Bearings in the fourth quarter worth $35,000. Finally, EverSource Wealth Advisors LLC raised its holdings in RBC Bearings by 123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 53 shares in the last quarter.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, Director Edward Stewart sold 600 shares of RBC Bearings stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total value of $355,698.00. Following the completion of the transaction, the director directly owned 21,337 shares in the company, valued at $12,649,213.71. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John J. Feeney sold 225 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total value of $148,036.50. Following the transaction, the vice president directly owned 2,378 shares of the company’s stock, valued at $1,564,581.32. This trade represents a 8.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,425 shares of company stock worth $885,400 over the last ninety days. Company insiders own 1.90% of the company’s stock.

RBC Bearings Trading Down 0.1%

RBC Bearings stock opened at $603.70 on Monday. RBC Bearings Incorporated has a 1 year low of $364.50 and a 1 year high of $667.69. The firm’s 50-day moving average is $601.09 and its 200-day moving average is $553.70. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18. The company has a market cap of $19.10 billion, a P/E ratio of 66.41, a PEG ratio of 3.49 and a beta of 1.40.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on RBC. Truist Financial reiterated a “buy” rating and set a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Morgan Stanley upped their target price on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Weiss Ratings cut shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Finally, Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Six 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 presently has an average rating of “Moderate Buy” and an average target price of $584.00.

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.