RBC Bearings Incorporated (NYSE:RBC) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. increased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 541.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 276 shares of the industrial products company’s stock after acquiring an additional 233 shares during the period. Blue Trust Inc.’s holdings in RBC Bearings were worth $83,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. boosted its position in RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. DT Investment Partners LLC purchased a new stake in RBC Bearings during the second quarter worth $35,000. Opal Wealth Advisors LLC purchased a new stake in RBC Bearings during the second quarter worth $41,000. Canada Pension Plan Investment Board purchased a new stake in RBC Bearings during the second quarter worth $54,000. Finally, Strategic Financial Concepts LLC purchased a new stake in RBC Bearings during the second quarter worth $68,000.

RBC Bearings Stock Performance

NYSE RBC opened at $285.85 on Wednesday. The business’s 50-day moving average price is $290.41 and its 200 day moving average price is $280.85. RBC Bearings Incorporated has a twelve month low of $214.14 and a twelve month high of $309.01. The company has a market capitalization of $8.36 billion, a PE ratio of 42.16, a price-to-earnings-growth ratio of 3.30 and a beta of 1.51. The company has a current ratio of 3.01, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, August 2nd. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $416.65 million. During the same period in the prior year, the business posted $1.98 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, research analysts predict that RBC Bearings Incorporated will post 8.95 earnings per share for the current year.

Insiders Place Their Bets

In other RBC Bearings news, Director Edward Stewart sold 3,000 shares of the company’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 completion of the sale, the director now directly owns 20,461 shares in the company, 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 hyperlink. In other RBC Bearings news, CEO Michael J. Hartnett sold 11,341 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $287.52, for a total transaction of $3,260,764.32. Following the completion of the sale, the chief executive officer now directly owns 320,053 shares in the company, valued at $92,021,638.56. 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 hyperlink. Also, Director Edward Stewart sold 3,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $277.24, for a total value of $831,720.00. Following the completion of the sale, the director now owns 20,461 shares of the company’s stock, valued at approximately $5,672,607.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,327 shares of company stock worth $11,900,641 over the last three months. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Truist Financial decreased their target price on RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Four 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, the company currently has an average 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.