Charles Schwab Investment Management Inc. Has $120.26 Million Stake in RBC Bearings Incorporated $RBC

Charles Schwab Investment Management Inc. lifted its stake in RBC Bearings Incorporated (NYSE:RBC) by 0.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 312,517 shares of the industrial products company’s stock after purchasing an additional 455 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.99% of RBC Bearings worth $120,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new stake in RBC Bearings in the 1st quarter worth approximately $26,000. Hantz Financial Services Inc. increased its stake in shares of RBC Bearings by 1,257.1% in the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 88 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of RBC Bearings during the second quarter worth $83,000. IFP Advisors Inc raised its holdings in shares of 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 in the last quarter. Finally, Harbor Investment Advisory LLC grew its stake in shares of RBC Bearings by 19.8% in the second quarter. Harbor Investment Advisory LLC now owns 327 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 54 shares during the last quarter.

Insider Buying and Selling at RBC Bearings

In related news, Director Steven H. Kaplan sold 700 shares of RBC Bearings stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total value of $310,100.00. Following the completion of the transaction, the director directly owned 1,999 shares of the company’s stock, valued at $885,557. The trade was a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John J. Feeney sold 105 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $382.83, for a total transaction of $40,197.15. Following the transaction, the vice president owned 2,666 shares in the company, valued at approximately $1,020,624.78. This trade represents a 3.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RBC. Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and increased their target price for the company from $390.00 to $500.00 in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $503.00 price target on RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a report on Monday. Finally, Truist Financial reissued a “buy” rating and set a $471.00 price objective (up previously from $455.00) on shares of RBC Bearings in a report on Monday, November 3rd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $459.17.

RBC Bearings Trading Up 0.4%

Shares of RBC stock opened at $444.56 on Friday. The company has a market capitalization of $14.05 billion, a P/E ratio of 55.99, a P/E/G ratio of 3.16 and a beta of 1.73. RBC Bearings Incorporated has a 12-month low of $290.56 and a 12-month high of $449.60. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $405.40 and a 200 day moving average price of $391.03.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. The company had revenue of $156.21 million during the quarter. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. Research analysts forecast 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.