Visualize Group LP Purchases New Position in RBC Bearings Incorporated $RBC

Visualize Group LP purchased a new stake in RBC Bearings Incorporated (NYSE:RBC) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,447 shares of the industrial products company’s stock, valued at approximately $27,942,000. RBC Bearings comprises about 11.5% of Visualize Group LP’s investment portfolio, making the stock its 2nd largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its position in shares of 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 buying an additional 33 shares during the last quarter. Millstone Evans Group LLC boosted its holdings in shares of RBC Bearings by 45.3% in the 1st quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock valued at $42,000 after buying an additional 24 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of RBC Bearings in the 4th quarter valued at $35,000. Advisors Asset Management Inc. purchased a new position in shares of RBC Bearings in the 1st quarter valued at $26,000. Finally, Larson Financial Group LLC raised its stake 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 acquiring an additional 49 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RBC. Morgan Stanley boosted their price target on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Truist Financial reiterated a “buy” rating and set a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Finally, Weiss Ratings upgraded RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 15th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $584.00.

Insider Transactions at RBC Bearings

In other news, VP John J. Feeney sold 225 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total value of $148,036.50. Following the completion of the sale, the vice president owned 2,378 shares in the company, valued at approximately $1,564,581.32. This trade represents a 8.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dolores J. Ennico sold 600 shares of RBC Bearings stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total transaction of $381,666.00. Following the completion of the sale, the director directly owned 7,254 shares in the company, valued at approximately $4,614,341.94. The trade was a 7.64% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,425 shares of company stock worth $885,400. Company insiders own 1.90% of the company’s stock.

RBC Bearings Price Performance

RBC Bearings stock opened at $594.57 on Monday. RBC Bearings Incorporated has a 12 month low of $364.50 and a 12 month high of $667.69. 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 business has a 50 day simple moving average of $597.34 and a 200-day simple moving average of $568.03. The stock has a market capitalization of $18.81 billion, a PE ratio of 65.41, a price-to-earnings-growth ratio of 3.39 and a beta of 1.40.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, May 15th. The industrial products company reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. The firm had revenue of $518.00 million for the quarter, compared to analyst estimates of $505.90 million. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. RBC Bearings’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the firm posted $2.83 EPS. Equities analysts predict that RBC Bearings Incorporated will post 13.66 earnings per share for the current year.

RBC Bearings Company 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.