Sigma Planning Corp Takes Position in RBC Bearings Incorporated $RBC

Sigma Planning Corp acquired a new position in shares of RBC Bearings Incorporated (NYSE:RBC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,509 shares of the industrial products company’s stock, valued at approximately $972,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Western Wealth Management LLC acquired a new position in RBC Bearings during the first quarter worth approximately $27,000. SBI Securities Co. Ltd. lifted its position in shares of RBC Bearings by 106.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after buying an additional 33 shares during the last quarter. Millstone Evans Group LLC lifted its position in shares of RBC Bearings by 45.3% in the first 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 during the last quarter. Advisors Asset Management Inc. bought a new position in shares of RBC Bearings during the 1st quarter worth approximately $26,000. Finally, Larson Financial Group LLC boosted its stake in shares of 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 during the period.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RBC. Morgan Stanley boosted their target price on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Weiss Ratings downgraded shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 27th. Truist Financial increased their price objective on shares of RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $686.00 target price on shares of RBC Bearings in a research note on Tuesday, August 4th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $623.00.

Insider Activity at RBC Bearings

In other news, VP John J. Feeney sold 225 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total transaction of $148,036.50. Following the completion of the sale, the vice president owned 2,378 shares of the company’s stock, valued at approximately $1,564,581.32. This represents a 8.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dolores J. Ennico sold 600 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $636.11, for a total transaction of $381,666.00. Following the sale, the director owned 7,254 shares in the company, valued at $4,614,341.94. This represents a 7.64% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is currently owned by insiders.

RBC Bearings Price Performance

Shares of NYSE RBC opened at $488.50 on Wednesday. The firm has a market cap of $15.47 billion, a P/E ratio of 48.27, a price-to-earnings-growth ratio of 2.65 and a beta of 1.39. The business’s 50 day moving average is $569.06 and its 200-day moving average is $574.48. The company has a current ratio of 2.53, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21. RBC Bearings Incorporated has a 1-year low of $364.50 and a 1-year high of $667.69.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, July 31st. The industrial products company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.42 by $0.46. RBC Bearings had a net margin of 16.40% and a return on equity of 12.06%. The business had revenue of $519.50 million for the quarter, compared to analyst estimates of $508.92 million. During the same period last year, the firm earned $2.84 earnings per share. RBC Bearings’s revenue for the quarter was up 19.2% compared to the same quarter last year. Equities research analysts predict that RBC Bearings Incorporated will post 14.12 earnings per share for the current year.

About RBC Bearings

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.