Duality Advisers LP Takes $591,000 Position in RBC Bearings Incorporated (NYSE:RBC)

Duality Advisers LP acquired a new stake in RBC Bearings Incorporated (NYSE:RBCFree Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,538 shares of the industrial products company’s stock, valued at approximately $591,000.

Other large investors also recently bought and sold shares of the company. Signaturefd LLC acquired a new position in RBC Bearings in the 1st quarter worth about $29,000. Compass Wealth Management LLC acquired a new position in RBC Bearings in the 1st quarter worth about $34,000. Stephens Inc. AR acquired a new position in RBC Bearings in the 1st quarter worth about $36,000. Private Trust Co. NA acquired a new position in RBC Bearings in the 1st quarter worth about $39,000. Finally, First Manhattan CO. LLC. acquired a new position in RBC Bearings in the 1st quarter worth about $40,000.

Insider Buying and Selling

In related news, Director Steven H. Kaplan sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $228.15, for a total value of $456,300.00. Following the completion of the transaction, the director now directly owns 5,900 shares in the company, valued at $1,346,085. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Steven H. Kaplan sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $228.15, for a total transaction of $456,300.00. Following the completion of the transaction, the director now directly owns 5,900 shares in the company, valued at $1,346,085. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Steven H. Kaplan sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $239.43, for a total value of $598,575.00. Following the transaction, the director now owns 4,400 shares of the company’s stock, valued at $1,053,492. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,780 shares of company stock worth $1,353,846. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

RBC has been the subject of a number of research analyst reports. Truist Financial increased their target price on RBC Bearings from $265.00 to $275.00 and gave the company a “buy” rating in a report on Monday, August 7th. Wells Fargo & Company increased their target price on RBC Bearings from $225.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. Morgan Stanley increased their target price on RBC Bearings from $286.00 to $294.00 and gave the company an “overweight” rating in a report on Wednesday, August 9th. Alembic Global Advisors raised RBC Bearings from a “neutral” rating to an “overweight” rating and set a $267.00 target price for the company in a report on Wednesday, August 9th. Finally, Royal Bank of Canada upgraded RBC Bearings from a “neutral” rating to an “overweight” rating in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $264.20.

View Our Latest Analysis on RBC

RBC Bearings Price Performance

RBC stock opened at $240.20 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.96 and a quick ratio of 1.05. The business has a 50 day simple moving average of $226.12 and a 200-day simple moving average of $221.37. The firm has a market capitalization of $6.92 billion, a PE ratio of 44.73, a price-to-earnings-growth ratio of 4.95 and a beta of 1.41. RBC Bearings Incorporated has a 1 year low of $195.18 and a 1 year high of $256.29.

RBC Bearings (NYSE:RBCGet Free Report) last issued its quarterly earnings data on Friday, August 4th. The industrial products company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.11. The company had revenue of $387.12 million during the quarter, compared to analyst estimates of $390.72 million. RBC Bearings had a return on equity of 9.51% and a net margin of 11.93%. Equities research analysts anticipate that RBC Bearings Incorporated will post 8.2 earnings per share for the current fiscal year.

RBC Bearings Profile

(Free Report)

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.

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

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