RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lessened its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,609 shares of the industrial products company’s stock after selling 61 shares during the quarter. Cetera Investment Advisers’ holdings in RBC Bearings were worth $1,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RBC. PNC Financial Services Group Inc. boosted its stake in RBC Bearings by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,778 shares of the industrial products company’s stock valued at $1,646,000 after acquiring an additional 50 shares during the last quarter. Legacy Advisors LLC raised its stake in shares of RBC Bearings by 1.4% in the 2nd quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company’s stock valued at $1,223,000 after purchasing an additional 61 shares in the last quarter. RiverPark Advisors LLC lifted its position in shares of RBC Bearings by 9.6% during the second quarter. RiverPark Advisors LLC now owns 993 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 87 shares during the last quarter. GAMMA Investing LLC grew its position in shares of RBC Bearings by 36.8% in the 2nd quarter. GAMMA Investing LLC now owns 357 shares of the industrial products company’s stock worth $96,000 after acquiring an additional 96 shares in the last quarter. Finally, State of Michigan Retirement System boosted its holdings in RBC Bearings by 1.4% in the first quarter. State of Michigan Retirement System now owns 7,100 shares of the industrial products company’s stock worth $1,919,000 after purchasing an additional 100 shares during the period.

Insiders Place Their Bets

In other news, Director Edward Stewart sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $277.24, for a total transaction of $831,720.00. Following the transaction, the director now owns 20,461 shares of the company’s stock, valued at $5,672,607.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other RBC Bearings news, Director Edward Stewart sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $277.24, for a total transaction of $831,720.00. Following the transaction, the director now owns 20,461 shares in the company, valued at approximately $5,672,607.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Hartnett sold 19,283 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $289.42, for a total transaction of $5,580,885.86. Following the completion of the sale, the chief executive officer now owns 317,814 shares of the company’s stock, valued at approximately $91,981,727.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,327 shares of company stock valued at $11,900,641. Insiders own 2.60% of the company’s stock.

RBC Bearings Stock Performance

Shares of NYSE RBC opened at $290.61 on Thursday. RBC Bearings Incorporated has a 12 month low of $214.14 and a 12 month high of $309.01. The business’s 50 day moving average is $289.49 and its two-hundred day moving average is $279.23. The company has a market cap of $8.49 billion, a P/E ratio of 42.86, a P/E/G ratio of 3.19 and a beta of 1.51. The company has a quick ratio of 1.09, a current ratio of 3.01 and a debt-to-equity ratio of 0.40.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.54 earnings per share 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 company had revenue of $406.30 million for the quarter, compared to the consensus estimate of $416.65 million. During the same period in the previous year, the business earned $1.98 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts expect that RBC Bearings Incorporated will post 8.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RBC shares. Truist Financial reduced 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. Raymond James initiated coverage on shares of RBC Bearings in a report on Friday, June 28th. They set a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, RBC Bearings presently has a consensus rating of “Moderate Buy” and an average price target 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.