Atria Wealth Solutions Inc. Cuts Position in RBC Bearings Incorporated $RBC

Atria Wealth Solutions Inc. decreased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 3.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,245 shares of the industrial products company’s stock after selling 43 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in RBC Bearings were worth $479,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new position in shares of RBC Bearings during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC grew its stake in RBC Bearings by 107.1% in the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company’s stock valued at $85,000 after acquiring an additional 136 shares during the period. SVB Wealth LLC purchased a new stake in RBC Bearings in the 1st quarter worth $111,000. IFP Advisors Inc raised its position in RBC Bearings by 51.6% during the second quarter. IFP Advisors Inc now owns 291 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 99 shares during the period. Finally, Harbor Investment Advisory LLC lifted its holdings in RBC Bearings by 19.8% during the second quarter. Harbor Investment Advisory LLC now owns 327 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 54 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RBC. Truist Financial boosted their target price on shares of RBC Bearings from $431.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $503.00 price objective on RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group raised their target price on RBC Bearings from $375.00 to $416.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. KeyCorp boosted their price target on RBC Bearings from $405.00 to $450.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of RBC Bearings in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, RBC Bearings has a consensus rating of “Moderate Buy” and an average target price of $429.00.

Insider Transactions at RBC Bearings

In other RBC Bearings news, VP John J. Feeney sold 105 shares of the business’s stock in a transaction dated 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 $1,020,624.78. The trade was a 3.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Daniel A. Bergeron sold 48,743 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $402.75, for a total transaction of $19,631,243.25. Following the completion of the sale, the chief operating officer directly owned 111,134 shares of the company’s stock, valued at approximately $44,759,218.50. This trade represents a 30.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

RBC Bearings Price Performance

RBC stock opened at $372.46 on Monday. RBC Bearings Incorporated has a 1 year low of $272.50 and a 1 year high of $416.33. 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 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. The business has a 50 day simple moving average of $385.97 and a 200-day simple moving average of $371.93.

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

RBC Bearings 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.