RBC Bearings Incorporated (NYSE:RBC) Shares Bought by Blair William & Co. IL

Blair William & Co. IL grew its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 13.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 210,485 shares of the industrial products company’s stock after purchasing an additional 24,885 shares during the period. Blair William & Co. IL owned 0.67% of RBC Bearings worth $67,728,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in shares of RBC Bearings by 38,860.9% in the 1st quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company’s stock worth $64,813,000 after acquiring an additional 200,911 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of RBC Bearings by 32.6% in the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company’s stock worth $159,998,000 after acquiring an additional 131,614 shares during the period. First Trust Advisors LP increased its holdings in shares of RBC Bearings by 63.5% in the 4th quarter. First Trust Advisors LP now owns 315,661 shares of the industrial products company’s stock worth $94,427,000 after acquiring an additional 122,552 shares during the period. Durable Capital Partners LP increased its holdings in shares of RBC Bearings by 1.9% in the 4th quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company’s stock worth $787,141,000 after acquiring an additional 48,287 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of RBC Bearings by 18.2% in the 4th quarter. Northern Trust Corp now owns 276,340 shares of the industrial products company’s stock worth $82,664,000 after acquiring an additional 42,459 shares during the period.

Insider Buying and Selling at RBC Bearings

In other news, Director Steven H. Kaplan sold 400 shares of the firm’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $381.30, for a total transaction of $152,520.00. Following the completion of the transaction, the director owned 2,499 shares in the company, valued at approximately $952,868.70. This trade represents a 13.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Daniel A. Bergeron sold 31,282 shares of the firm’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the transaction, the chief operating officer owned 111,134 shares of the company’s stock, valued at approximately $42,262,037.52. This trade represents a 21.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,973 shares of company stock worth $29,186,872. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RBC shares. KeyCorp increased their price objective on shares of RBC Bearings from $405.00 to $450.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Truist Financial increased their price objective on shares of RBC Bearings from $405.00 to $431.00 and gave the stock a “buy” rating in a report on Thursday, June 12th. Morgan Stanley reissued an “overweight” rating and set a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of RBC Bearings in a research note on Wednesday, July 16th. They set a “buy” rating and a $480.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price on shares of RBC Bearings from $375.00 to $416.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, RBC Bearings has an average rating of “Moderate Buy” and an average target price of $421.17.

RBC Bearings Stock Up 2.9%

RBC Bearings stock opened at $398.71 on Monday. RBC Bearings Incorporated has a 52 week low of $260.53 and a 52 week high of $405.18. The company has a current ratio of 3.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $380.32 and its two-hundred day moving average price is $354.95. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 50.22, a PEG ratio of 3.28 and a beta of 1.71.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, August 1st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.10. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. The company had revenue of $436.00 million during the quarter, compared to analyst estimates of $432.63 million. During the same quarter last year, the firm posted $2.54 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems 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.