RBC Bearings Incorporated $RBC Shares Sold by Brant Point Investment Management LLC

Brant Point Investment Management LLC lessened its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 41.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,000 shares of the industrial products company’s stock after selling 7,000 shares during the period. Brant Point Investment Management LLC’s holdings in RBC Bearings were worth $4,484,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RBC. Advisors Asset Management Inc. acquired a new position in shares of RBC Bearings during the 1st quarter worth $26,000. SBI Securities Co. Ltd. increased its position in RBC Bearings by 106.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 33 shares in the last quarter. Larson Financial Group LLC increased its position in RBC Bearings by 148.5% during the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 49 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in RBC Bearings during the 4th quarter worth about $35,000. Finally, EverSource Wealth Advisors LLC increased its position in RBC Bearings by 123.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 53 shares in the last quarter.

RBC Bearings Stock Down 0.7%

RBC opened at $603.22 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 0.78. The stock has a market capitalization of $19.09 billion, a price-to-earnings ratio of 66.36, a price-to-earnings-growth ratio of 3.49 and a beta of 1.42. The business has a 50-day moving average of $586.12 and a two-hundred day moving average of $533.61. RBC Bearings Incorporated has a 12 month low of $363.05 and a 12 month high of $632.00.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating the consensus estimate of $3.31 by $0.31. The company had revenue of $518.00 million during the quarter, compared to analysts’ expectations of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.83 EPS. On average, research analysts expect that RBC Bearings Incorporated will post 13.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial reiterated a “buy” rating and set a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Weiss Ratings upgraded RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. KeyCorp lifted their price objective on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Finally, Morgan Stanley lifted their price objective on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $584.00.

Insider Buying and Selling

In other RBC Bearings news, Director Edward Stewart sold 600 shares of RBC Bearings stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total value of $355,698.00. Following the completion of the sale, the director owned 21,337 shares in the company, valued at $12,649,213.71. The trade was a 2.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by company insiders.

RBC Bearings Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.