RBC Bearings Incorporated $RBC Shares Purchased by Walleye Capital LLC

Walleye Capital LLC boosted its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 70.9% during the first quarter, Holdings Channel.com reports. The firm owned 53,760 shares of the industrial products company’s stock after buying an additional 22,311 shares during the quarter. Walleye Capital LLC’s holdings in RBC Bearings were worth $29,198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of RBC Bearings by 0.5% during the 3rd quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock worth $358,778,000 after buying an additional 4,568 shares during the last quarter. Geode Capital Management LLC lifted its holdings in RBC Bearings by 8.5% in the fourth quarter. Geode Capital Management LLC now owns 619,314 shares of the industrial products company’s stock valued at $277,776,000 after acquiring an additional 48,419 shares during the last quarter. Maren Capital LLC grew its holdings in shares of RBC Bearings by 1.4% during the 4th quarter. Maren Capital LLC now owns 450,314 shares of the industrial products company’s stock worth $201,934,000 after purchasing an additional 6,373 shares during the period. First Trust Advisors LP increased its position in shares of RBC Bearings by 27.5% during the first quarter. First Trust Advisors LP now owns 409,700 shares of the industrial products company’s stock valued at $222,516,000 after acquiring an additional 88,468 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in RBC Bearings by 6.2% in the 4th quarter. Invesco Ltd. now owns 404,777 shares of the industrial products company’s stock valued at $181,514,000 after purchasing an additional 23,616 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Weiss Ratings upgraded shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 15th. Morgan Stanley upped their price objective on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Truist Financial reiterated a “buy” rating and issued a $615.00 target price (up from $599.00) on shares of RBC Bearings in a report on Tuesday, May 19th. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Finally, Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $584.00.

Insider Transactions at RBC Bearings

In other news, Director Edward Stewart sold 600 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 21,337 shares of the company’s stock, valued at approximately $12,649,213.71. The trade was a 2.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dolores J. Ennico sold 600 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total value of $381,666.00. Following the completion of the sale, the director directly owned 7,254 shares of the company’s stock, valued at approximately $4,614,341.94. This trade represents a 7.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,425 shares of company stock worth $885,400. Corporate insiders own 1.90% of the company’s stock.

RBC Bearings Stock Performance

Shares of RBC stock opened at $590.39 on Thursday. RBC Bearings Incorporated has a 12 month low of $364.50 and a 12 month high of $667.69. The company has a market cap of $18.68 billion, a P/E ratio of 64.95, a PEG ratio of 3.34 and a beta of 1.40. The company has a current ratio of 2.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average price of $597.15 and a 200 day moving average price of $566.13.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.31. The business had revenue of $518.00 million for the quarter, compared to analyst estimates of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the company earned $2.83 EPS. Sell-side analysts predict that RBC Bearings Incorporated will post 13.66 earnings per share for the current fiscal year.

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.