Amalgamated Bank Purchases 186 Shares of RBC Bearings Incorporated $RBC

Amalgamated Bank grew its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,434 shares of the industrial products company’s stock after acquiring an additional 186 shares during the period. Amalgamated Bank’s holdings in RBC Bearings were worth $5,554,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RBC. Wealth Enhancement Advisory Services LLC bought a new position in shares of RBC Bearings during the first quarter valued at about $253,000. KBC Group NV raised its stake in shares of RBC Bearings by 6.9% during the first quarter. KBC Group NV now owns 1,201 shares of the industrial products company’s stock valued at $386,000 after acquiring an additional 77 shares during the last quarter. New York State Teachers Retirement System raised its stake in RBC Bearings by 21.3% in the first quarter. New York State Teachers Retirement System now owns 5,700 shares of the industrial products company’s stock worth $1,834,000 after buying an additional 1,000 shares in the last quarter. First Horizon Advisors Inc. raised its stake in RBC Bearings by 47.9% in the first quarter. First Horizon Advisors Inc. now owns 843 shares of the industrial products company’s stock worth $271,000 after buying an additional 273 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in RBC Bearings in the first quarter worth about $5,534,000.

Insider Buying and Selling

In other news, VP John J. Feeney sold 105 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $382.83, for a total transaction of $40,197.15. Following the sale, the vice president owned 2,666 shares in the company, valued at $1,020,624.78. This represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Daniel A. Bergeron sold 48,743 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $402.75, for a total transaction of $19,631,243.25. Following the sale, the chief operating officer owned 111,134 shares in the company, valued at approximately $44,759,218.50. The trade was a 30.49% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.90% of the company’s stock.

RBC Bearings Price Performance

Shares of NYSE RBC opened at $431.30 on Friday. RBC Bearings Incorporated has a fifty-two week low of $272.50 and a fifty-two week high of $432.89. The company has a 50 day simple moving average of $387.37 and a two-hundred day simple moving average of $377.82. The company has a market capitalization of $13.61 billion, a price-to-earnings ratio of 54.32, a P/E/G ratio of 3.16 and a beta of 1.71. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33.

RBC Bearings (NYSE:RBC) last announced its earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. The business had revenue of $156.21 million during the quarter. Analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RBC shares. The Goldman Sachs Group increased their price target on shares of RBC Bearings from $375.00 to $416.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Truist Financial increased their price target on shares of RBC Bearings from $431.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RBC Bearings in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft set a $503.00 target price on shares of RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $429.00.

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.