Swiss National Bank Cuts Stake in RBC Bearings Incorporated (NYSE:RBC)

Swiss National Bank lessened its holdings in RBC Bearings Incorporated (NYSE:RBCGet Rating) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,990 shares of the industrial products company’s stock after selling 300 shares during the quarter. Swiss National Bank owned 0.24% of RBC Bearings worth $12,575,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of RBC Bearings by 1.6% in the first quarter. BlackRock Inc. now owns 2,145,334 shares of the industrial products company’s stock worth $415,937,000 after buying an additional 33,956 shares during the period. Durable Capital Partners LP grew its holdings in RBC Bearings by 28.2% in the 1st quarter. Durable Capital Partners LP now owns 1,604,993 shares of the industrial products company’s stock worth $311,176,000 after acquiring an additional 353,074 shares during the last quarter. Wasatch Advisors Inc. increased its position in shares of RBC Bearings by 3.5% in the first quarter. Wasatch Advisors Inc. now owns 1,458,413 shares of the industrial products company’s stock valued at $282,757,000 after acquiring an additional 49,064 shares during the period. JPMorgan Chase & Co. raised its stake in shares of RBC Bearings by 2.7% during the first quarter. JPMorgan Chase & Co. now owns 879,373 shares of the industrial products company’s stock valued at $170,493,000 after acquiring an additional 23,354 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its holdings in RBC Bearings by 3.6% in the 1st quarter. GW&K Investment Management LLC now owns 730,824 shares of the industrial products company’s stock worth $141,692,000 after buying an additional 25,343 shares during the period.

Insider Transactions at RBC Bearings

In related news, Director Richard R. Crowell sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $233.27, for a total transaction of $373,232.00. Following the completion of the sale, the director now owns 30,070 shares of the company’s stock, valued at $7,014,428.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other RBC Bearings news, Director Richard R. Crowell sold 1,600 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $233.27, for a total transaction of $373,232.00. Following the sale, the director now directly owns 30,070 shares in the company, valued at approximately $7,014,428.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven H. Kaplan sold 500 shares of the business’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $256.61, for a total value of $128,305.00. Following the completion of the transaction, the director now owns 6,700 shares of the company’s stock, valued at approximately $1,719,287. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on RBC shares. Morgan Stanley lifted their price target on shares of RBC Bearings from $285.00 to $293.00 and gave the company an “overweight” rating in a report on Monday, November 14th. Bank of America restated an “underperform” rating and issued a $235.00 price objective (up from $193.00) on shares of RBC Bearings in a report on Wednesday, September 14th. TheStreet raised RBC Bearings from a “c+” rating to a “b-” rating in a research report on Monday, August 1st. Citigroup raised their target price on RBC Bearings from $200.00 to $250.00 in a research note on Tuesday, August 9th. Finally, Bank Of America (Bofa) downgraded RBC Bearings from a “neutral” rating to an “underperform” rating in a report on Wednesday, September 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $241.14.

RBC Bearings Stock Performance

Shares of RBC Bearings stock opened at $243.93 on Friday. RBC Bearings Incorporated has a 1 year low of $152.90 and a 1 year high of $264.94. The firm’s 50-day moving average is $230.83 and its 200 day moving average is $214.94. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 78.18, a PEG ratio of 5.92 and a beta of 1.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.98 and a quick ratio of 1.16.

RBC Bearings Company Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for RBC Bearings (NYSE:RBC)

Receive News & Ratings for RBC Bearings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RBC Bearings and related companies with MarketBeat.com's FREE daily email newsletter.