Cetera Investment Advisers Sells 310 Shares of RBC Bearings Incorporated $RBC

Cetera Investment Advisers cut its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 7.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,910 shares of the industrial products company’s stock after selling 310 shares during the quarter. Cetera Investment Advisers’ holdings in RBC Bearings were worth $1,505,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Vista Finance LLC increased its holdings in RBC Bearings by 4.1% in the 2nd quarter. Vista Finance LLC now owns 915 shares of the industrial products company’s stock worth $352,000 after acquiring an additional 36 shares during the last quarter. Sheets Smith Wealth Management lifted its position in RBC Bearings by 0.9% during the second quarter. Sheets Smith Wealth Management now owns 5,064 shares of the industrial products company’s stock valued at $1,949,000 after purchasing an additional 44 shares during the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of RBC Bearings by 19.8% during the 2nd 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. Huntleigh Advisors Inc. boosted its holdings in shares of RBC Bearings by 0.9% in the 2nd quarter. Huntleigh Advisors Inc. now owns 6,633 shares of the industrial products company’s stock worth $2,552,000 after purchasing an additional 56 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in RBC Bearings by 4.4% in the second quarter. ProShare Advisors LLC now owns 1,391 shares of the industrial products company’s stock worth $535,000 after buying an additional 58 shares in the last quarter.

Insider Activity at RBC Bearings

In other RBC Bearings news, Director Steven H. Kaplan sold 700 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total transaction of $310,100.00. Following the completion of the sale, the director directly owned 1,999 shares of the company’s stock, valued at $885,557. This trade represents a 25.94% decrease in their position. The sale 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 firm’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $382.83, for a total transaction of $40,197.15. Following the transaction, the vice president directly owned 2,666 shares of the company’s stock, valued at $1,020,624.78. The trade was a 3.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.90% of the company’s stock.

RBC Bearings Stock Down 0.7%

NYSE RBC opened at $441.90 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29. RBC Bearings Incorporated has a 52 week low of $290.56 and a 52 week high of $449.60. The company has a market capitalization of $13.97 billion, a P/E ratio of 55.65, a price-to-earnings-growth ratio of 3.16 and a beta of 1.73. The stock’s 50-day moving average price is $407.88 and its 200-day moving average price is $392.46.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 earnings per share (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 during the quarter. On average, equities research analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Wall Street Analyst Weigh In

RBC has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, November 24th. Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Bank of America raised RBC Bearings from a “neutral” rating to a “buy” rating and raised their price objective for the company from $390.00 to $500.00 in a research report on Thursday, November 6th. Truist Financial reiterated a “buy” rating and set a $471.00 target price (up from $455.00) on shares of RBC Bearings in a report on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft set a $503.00 price objective on shares of RBC Bearings and gave the company a “buy” rating in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $459.17.

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.