Private Advisor Group LLC Grows Position in RBC Bearings Incorporated (NYSE:RBC)

Private Advisor Group LLC lifted its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 13.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,320 shares of the industrial products company’s stock after buying an additional 156 shares during the period. Private Advisor Group LLC’s holdings in RBC Bearings were worth $395,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in shares of RBC Bearings by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,095,607 shares of the industrial products company’s stock valued at $566,549,000 after buying an additional 20,491 shares during the last quarter. Vanguard Group Inc. boosted its position in RBC Bearings by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock worth $738,433,000 after purchasing an additional 19,574 shares during the last quarter. Sei Investments Co. boosted its position in RBC Bearings by 5.5% in the first quarter. Sei Investments Co. now owns 134,385 shares of the industrial products company’s stock worth $36,330,000 after purchasing an additional 6,962 shares during the last quarter. CWM LLC boosted its position in RBC Bearings by 41.3% in the second quarter. CWM LLC now owns 10,436 shares of the industrial products company’s stock worth $2,815,000 after purchasing an additional 3,051 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in RBC Bearings in the second quarter worth about $2,380,000.

Analyst Upgrades and Downgrades

Separately, Truist Financial dropped 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $287.67.

Insider Transactions at RBC Bearings

In other news, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total value of $1,229,214.00. Following the transaction, the vice president now owns 12,539 shares of the company’s stock, valued at $3,669,789.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the sale, the vice president now owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Hartnett sold 3,000 shares of RBC Bearings stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $284.23, for a total value of $852,690.00. Following the sale, the chief executive officer now directly owns 294,120 shares in the company, valued at $83,597,727.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,327 shares of company stock valued at $11,068,921 over the last quarter. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Stock Up 1.0 %

NYSE RBC opened at $287.85 on Wednesday. The stock’s 50-day moving average price is $289.69 and its 200-day moving average price is $281.88. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. RBC Bearings Incorporated has a 52 week low of $214.64 and a 52 week high of $309.01. The company has a market capitalization of $8.41 billion, a P/E ratio of 42.02, a price-to-earnings-growth ratio of 3.26 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company had revenue of $397.90 million during the quarter, compared to the consensus estimate of $403.89 million. During the same period last year, the business earned $2.07 EPS. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts predict that RBC Bearings Incorporated will post 8.95 earnings per share for the current year.

About RBC Bearings

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.