IFP Advisors Inc Grows Stake in RBC Bearings Incorporated $RBC

IFP Advisors Inc lifted its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 51.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 291 shares of the industrial products company’s stock after purchasing an additional 99 shares during the period. IFP Advisors Inc’s holdings in RBC Bearings were worth $112,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of RBC Bearings during the first quarter worth about $253,000. New York State Teachers Retirement System increased its stake in shares of RBC Bearings by 21.3% during the first quarter. New York State Teachers Retirement System now owns 5,700 shares of the industrial products company’s stock worth $1,834,000 after purchasing an additional 1,000 shares in the last quarter. Personal CFO Solutions LLC purchased a new stake in shares of RBC Bearings during the first quarter worth about $296,000. HB Wealth Management LLC acquired a new position in RBC Bearings during the second quarter worth about $237,000. Finally, GAMMA Investing LLC boosted its position in RBC Bearings by 21.1% during the first quarter. GAMMA Investing LLC now owns 626 shares of the industrial products company’s stock worth $201,000 after acquiring an additional 109 shares during the last quarter.

RBC Bearings Price Performance

Shares of RBC stock opened at $372.46 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.33 and a quick ratio of 1.33. The firm’s 50-day moving average is $385.97 and its two-hundred day moving average is $371.54. RBC Bearings Incorporated has a 12 month low of $272.50 and a 12 month high of $416.33. The company has a market capitalization of $11.75 billion, a PE ratio of 46.91, a price-to-earnings-growth ratio of 2.88 and a beta of 1.71.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. The firm had revenue of $156.21 million for the quarter. Analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Insider Activity at RBC Bearings

In other news, VP John J. Feeney sold 105 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $382.83, for a total value of $40,197.15. Following the transaction, the vice president directly owned 2,666 shares in the company, valued at approximately $1,020,624.78. This represents a 3.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Daniel A. Bergeron sold 48,743 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $402.75, for a total transaction of $19,631,243.25. Following the completion of the transaction, the chief operating officer owned 111,134 shares in the company, valued at approximately $44,759,218.50. This represents a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RBC shares. The Goldman Sachs Group boosted their price target on shares of RBC Bearings from $375.00 to $416.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft set a $503.00 price target on shares of RBC Bearings and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Truist Financial boosted their price target on shares of RBC Bearings from $431.00 to $455.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of RBC Bearings in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, RBC Bearings currently has an average rating of “Moderate Buy” and an average price target of $429.00.

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.