Northwestern Mutual Wealth Management Co. Sells 101 Shares of RBC Bearings Incorporated (NYSE:RBC)

Northwestern Mutual Wealth Management Co. cut its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 22.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 350 shares of the industrial products company’s stock after selling 101 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in RBC Bearings were worth $94,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RBC. Vanguard Group Inc. boosted its holdings in shares of RBC Bearings by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock valued at $738,433,000 after acquiring an additional 19,574 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in RBC Bearings by 1.0% in 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 purchasing an additional 20,491 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake 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 valued at $523,769,000 after buying an additional 22,470 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of 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 valued at $483,369,000 after buying an additional 28,749 shares during the period. Finally, Conestoga Capital Advisors LLC grew its holdings in shares of RBC Bearings by 3.5% in the second quarter. Conestoga Capital Advisors LLC now owns 728,467 shares of the industrial products company’s stock worth $196,526,000 after acquiring an additional 24,470 shares during the period.

RBC Bearings Price Performance

Shares of NYSE:RBC opened at $280.65 on Friday. The firm’s 50 day simple moving average is $288.81 and its two-hundred day simple moving average is $278.83. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.01 and a quick ratio of 1.09. The company has a market capitalization of $8.20 billion, a P/E ratio of 41.39, a P/E/G ratio of 3.22 and a beta of 1.51. RBC Bearings Incorporated has a 1-year low of $214.14 and a 1-year high of $309.01.

RBC Bearings (NYSE:RBC) last issued 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. The company had revenue of $406.30 million during the quarter, compared to the consensus estimate of $416.65 million. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. RBC Bearings’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 EPS. Research analysts expect that RBC Bearings Incorporated will post 8.95 EPS for the current fiscal year.

Insider Activity at RBC Bearings

In other RBC Bearings news, Director Edward Stewart sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 of the company’s stock, valued at $5,672,607.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the completion of the transaction, the vice president now owns 12,539 shares of the company’s stock, valued at $3,669,789.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward Stewart sold 3,000 shares of RBC Bearings stock in a transaction dated Tuesday, August 6th. The stock was 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 directly owns 20,461 shares in the company, valued at $5,672,607.64. This trade represents a 0.00 % decrease in their ownership of the stock. 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. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RBC has been the topic of several research reports. 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. Raymond James began coverage on shares of RBC Bearings in a research report on Friday, June 28th. They set a “market perform” rating for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $287.67.

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.