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

Blair William & Co. IL lessened its stake in RBC Bearings Incorporated (NYSE:RBC) by 31.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,760 shares of the industrial products company’s stock after selling 2,219 shares during the quarter. Blair William & Co. IL’s holdings in RBC Bearings were worth $1,284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. 1832 Asset Management L.P. purchased a new stake in RBC Bearings during the 4th quarter worth approximately $27,000. Principal Securities Inc. purchased a new stake in shares of RBC Bearings in the fourth quarter valued at approximately $30,000. DT Investment Partners LLC purchased a new stake in shares of RBC Bearings in the second quarter valued at approximately $35,000. Opal Wealth Advisors LLC purchased a new stake in shares of RBC Bearings in the second quarter valued at approximately $41,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of RBC Bearings by 570.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 161 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 137 shares in the last quarter.

Insiders Place Their Bets

In other news, CEO Michael J. Hartnett sold 503 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total value of $145,367.00. Following the sale, the chief executive officer now directly owns 322,588 shares in the company, valued at $93,227,932. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael J. Hartnett sold 503 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total value of $145,367.00. Following the sale, the chief executive officer now directly owns 322,588 shares in the company, valued at $93,227,932. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total value of $1,229,214.00. Following the completion of the sale, the vice president now owns 12,539 shares in the company, valued at $3,669,789.13. The disclosure for this sale can be found here. Insiders have sold 41,327 shares of company stock worth $11,900,641 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

RBC Bearings Stock Up 1.6 %

NYSE:RBC opened at $302.79 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 3.01 and a debt-to-equity ratio of 0.40. The stock’s fifty day moving average is $288.20 and its two-hundred day moving average is $276.55. RBC Bearings Incorporated has a 52 week low of $214.14 and a 52 week high of $309.01. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 47.31, a price-to-earnings-growth ratio of 3.49 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.33. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. The company had revenue of $406.30 million for the quarter, compared to analysts’ expectations of $416.65 million. During the same period in the prior year, the firm earned $1.98 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. Research analysts anticipate that RBC Bearings Incorporated will post 8.85 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RBC. The Goldman Sachs Group upped their price target on RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Raymond James initiated coverage on RBC Bearings in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Truist Financial lowered their price objective on RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, William Blair initiated coverage on RBC Bearings in a research report on Wednesday, May 29th. They issued an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.67.

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.