RBC Bearings Incorporated $RBC Shares Sold by Davis R M Inc.

Davis R M Inc. lessened its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.9% during the 2nd quarter, Holdings Channel reports. The firm owned 42,401 shares of the industrial products company’s stock after selling 812 shares during the quarter. Davis R M Inc.’s holdings in RBC Bearings were worth $16,316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in RBC. HB Wealth Management LLC acquired a new position in RBC Bearings in the 2nd quarter worth approximately $237,000. Machina Capital S.A.S. acquired a new stake in shares of RBC Bearings in the second quarter worth $352,000. Jump Financial LLC acquired a new stake in shares of RBC Bearings in the first quarter worth $254,000. Atria Wealth Solutions Inc. acquired a new position in RBC Bearings during the first quarter valued at $414,000. Finally, LPL Financial LLC lifted its position in RBC Bearings by 28.4% during the first quarter. LPL Financial LLC now owns 34,447 shares of the industrial products company’s stock valued at $10,962,000 after purchasing an additional 7,614 shares during the period.

RBC Bearings Stock Up 0.7%

Shares of NYSE RBC opened at $435.12 on Monday. The firm has a market cap of $13.75 billion, a price-to-earnings ratio of 54.80, a price-to-earnings-growth ratio of 3.16 and a beta of 1.73. The company’s 50-day simple moving average is $390.69 and its 200-day simple moving average is $382.11. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29. RBC Bearings Incorporated has a 52-week low of $290.56 and a 52-week high of $439.10.

RBC Bearings (NYSE:RBC) last issued its quarterly 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 firm had revenue of $156.21 million for the quarter. Equities analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RBC has been the topic of several analyst reports. KeyCorp increased their price target on RBC Bearings from $405.00 to $450.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “buy (b)” rating on shares of RBC Bearings in a report on Wednesday, October 8th. Bank of America raised shares of RBC Bearings from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $390.00 to $500.00 in a research note on Thursday. Finally, Truist Financial reaffirmed a “buy” rating and set a $471.00 target price (up from $455.00) on shares of RBC Bearings in a report on Monday, November 3rd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $459.17.

Insider Activity

In related news, VP John J. Feeney sold 105 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $382.83, for a total transaction of $40,197.15. Following the completion of the sale, the vice president directly owned 2,666 shares in the company, valued at approximately $1,020,624.78. The trade was a 3.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by corporate insiders.

RBC Bearings 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.