RBC Bearings Incorporated $RBC Shares Sold by Wealth Alliance LLC

Wealth Alliance LLC decreased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 13.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 965 shares of the industrial products company’s stock after selling 147 shares during the period. Wealth Alliance LLC’s holdings in RBC Bearings were worth $371,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. acquired a new position in RBC Bearings in the first quarter valued at approximately $26,000. Hantz Financial Services Inc. lifted its holdings in shares of RBC Bearings by 1,257.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 88 shares during the last quarter. AlphaQuest LLC acquired a new position in RBC Bearings during the 2nd quarter valued at approximately $83,000. SVB Wealth LLC bought a new position in RBC Bearings during the 1st quarter worth $111,000. Finally, IFP Advisors Inc increased its position in RBC Bearings by 51.6% in the second quarter. IFP Advisors Inc now owns 291 shares of the industrial products company’s stock worth $112,000 after buying an additional 99 shares during the period.

Insiders Place Their Bets

In other RBC Bearings news, VP John J. Feeney sold 105 shares of RBC Bearings stock in a transaction 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 completion of the sale, the vice president owned 2,666 shares of the company’s stock, valued at $1,020,624.78. This trade represents a 3.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven H. Kaplan sold 700 shares of RBC Bearings stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total value of $310,100.00. Following the sale, the director owned 1,999 shares of the company’s stock, valued at approximately $885,557. This represents a 25.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RBC shares. Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and upped their price target for the stock from $390.00 to $500.00 in a research report on Thursday, November 6th. Truist Financial restated a “buy” rating and issued a $471.00 target price (up previously from $455.00) on shares of RBC Bearings in a research report on Monday, November 3rd. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $503.00 price objective on RBC Bearings and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research note on Tuesday. 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.com, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average price target of $459.17.

RBC Bearings Price Performance

Shares of RBC Bearings stock opened at $431.92 on Friday. The company has a current ratio of 3.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $394.88 and its two-hundred day moving average price is $384.46. RBC Bearings Incorporated has a 52 week low of $290.56 and a 52 week high of $448.74. The stock has a market cap of $13.65 billion, a PE ratio of 54.40, a price-to-earnings-growth ratio of 3.16 and a beta of 1.73.

RBC Bearings (NYSE:RBC) last released its earnings results on Monday, August 15th. The industrial products company reported $1.22 EPS 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 for the quarter. As a group, sell-side analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

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.