RBC Bearings Incorporated (NYSE:RBC) Shares Purchased by Diversified Trust Co

Diversified Trust Co boosted its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 26.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,638 shares of the industrial products company’s stock after acquiring an additional 750 shares during the quarter. Diversified Trust Co’s holdings in RBC Bearings were worth $1,089,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RBC. Vanguard Group Inc. boosted its position in shares of RBC Bearings by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock worth $738,433,000 after buying an additional 19,574 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in RBC Bearings by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,095,607 shares of the industrial products company’s stock worth $566,549,000 after buying an additional 20,491 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in RBC Bearings by 1.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,941,467 shares of the industrial products company’s stock worth $523,769,000 after buying an additional 22,470 shares during the last quarter. Wasatch Advisors LP lifted its holdings in RBC Bearings by 1.6% during the 1st quarter. Wasatch Advisors LP now owns 1,787,938 shares of the industrial products company’s stock worth $483,369,000 after buying an additional 28,749 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its position in shares of RBC Bearings by 3.5% during the second quarter. Conestoga Capital Advisors LLC now owns 728,467 shares of the industrial products company’s stock worth $196,526,000 after purchasing an additional 24,470 shares in the last quarter.

RBC Bearings Price Performance

Shares of NYSE:RBC opened at $283.05 on Wednesday. The business’s 50 day simple moving average is $289.10 and its 200-day simple moving average is $278.70. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 44.23, a price-to-earnings-growth ratio of 3.40 and a beta of 1.51. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.01 and a quick ratio of 1.09. RBC Bearings Incorporated has a 12 month low of $214.14 and a 12 month high of $309.01.

RBC Bearings (NYSE:RBC) last posted its earnings results on Friday, August 2nd. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $406.30 million for the quarter, compared to analyst estimates of $416.65 million. During the same quarter in the prior year, the company earned $1.98 EPS. RBC Bearings’s revenue was up 5.0% on a year-over-year basis. As a group, equities analysts forecast that RBC Bearings Incorporated will post 8.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RBC has been the topic of a number of research analyst reports. Raymond James assumed coverage on RBC Bearings in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial lowered their price objective on RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $287.67.

Insider Activity at RBC Bearings

In related news, CEO Michael J. Hartnett sold 503 shares of the company’s stock in a transaction that occurred 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 owns 322,588 shares of the company’s stock, valued at approximately $93,227,932. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other RBC Bearings news, CEO Michael J. Hartnett sold 503 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 322,588 shares in the company, valued at approximately $93,227,932. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Hartnett sold 11,341 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $287.52, for a total value of $3,260,764.32. Following the transaction, the chief executive officer now directly owns 320,053 shares in the company, valued at approximately $92,021,638.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,327 shares of company stock valued at $11,900,641. 2.90% of the stock is owned by corporate insiders.

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.