SG Americas Securities LLC Sells 2,490 Shares of RBC Bearings Incorporated (NYSE:RBC)

SG Americas Securities LLC reduced its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 81.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 569 shares of the industrial products company’s stock after selling 2,490 shares during the period. SG Americas Securities LLC’s holdings in RBC Bearings were worth $162,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings in shares of RBC Bearings by 1.6% in the 3rd quarter. American Century Companies Inc. now owns 3,086 shares of the industrial products company’s stock valued at $723,000 after buying an additional 50 shares during the last quarter. Portside Wealth Group LLC boosted its holdings in shares of RBC Bearings by 4.8% in the 3rd quarter. Portside Wealth Group LLC now owns 1,104 shares of the industrial products company’s stock valued at $258,000 after buying an additional 51 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of RBC Bearings by 16.1% in the 3rd quarter. Global Retirement Partners LLC now owns 383 shares of the industrial products company’s stock valued at $90,000 after buying an additional 53 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of RBC Bearings by 14.3% in the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company’s stock valued at $99,000 after buying an additional 53 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in shares of RBC Bearings by 0.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 7,018 shares of the industrial products company’s stock valued at $1,643,000 after buying an additional 63 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Citigroup increased their price objective on RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Truist Financial raised their price target on RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $275.86.

Insiders Place Their Bets

In other RBC Bearings news, COO Daniel A. Bergeron sold 15,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $267.22, for a total transaction of $4,008,300.00. Following the transaction, the chief operating officer now owns 121,935 shares in the company, valued at approximately $32,583,470.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.90% of the company’s stock.

RBC Bearings Stock Down 1.2 %

RBC stock opened at $251.63 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.28 and a quick ratio of 1.12. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 42.08, a PEG ratio of 4.86 and a beta of 1.45. The business’s fifty day moving average price is $266.86 and its two-hundred day moving average price is $258.18. RBC Bearings Incorporated has a fifty-two week low of $195.18 and a fifty-two week high of $288.16.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.08). The firm had revenue of $373.91 million for the quarter, compared to the consensus estimate of $376.61 million. RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. On average, equities analysts anticipate that RBC Bearings Incorporated will post 8.1 earnings per share for the current year.

About RBC Bearings

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.