Vestmark Advisory Solutions Inc. Sells 93 Shares of RBC Bearings Incorporated (NYSE:RBC)

Vestmark Advisory Solutions Inc. lessened its holdings in RBC Bearings Incorporated (NYSE:RBC) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,705 shares of the industrial products company’s stock after selling 93 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in RBC Bearings were worth $2,765,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LWM Advisory Services LLC purchased a new stake in RBC Bearings during the third quarter valued at approximately $31,000. Operose Advisors LLC purchased a new stake in shares of RBC Bearings in the 3rd quarter worth $45,000. GAMMA Investing LLC bought a new position in RBC Bearings in the 4th quarter worth $66,000. RiverPark Advisors LLC purchased a new position in RBC Bearings during the third quarter valued at $69,000. Finally, Fifth Third Bancorp grew its holdings in RBC Bearings by 14.3% during the third quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company’s stock valued at $99,000 after purchasing an additional 53 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RBC shares. Truist Financial raised their price objective on RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Citigroup lifted their price target on shares of RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $275.86.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, COO Daniel A. Bergeron sold 15,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total transaction of $4,008,300.00. Following the completion of the transaction, the chief operating officer now owns 121,935 shares of the company’s stock, valued at approximately $32,583,470.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is currently owned by insiders.

RBC Bearings Price Performance

RBC traded down $1.19 on Friday, hitting $249.99. 88,374 shares of the company’s stock traded hands, compared to its average volume of 150,445. The company’s 50 day simple moving average is $260.39 and its 200-day simple moving average is $258.88. The company has a current ratio of 3.28, a quick ratio of 1.12 and a debt-to-equity ratio of 0.47. RBC Bearings Incorporated has a one year low of $195.18 and a one year high of $288.16. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 41.80, a P/E/G ratio of 4.76 and a beta of 1.46.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.08). RBC Bearings had a net margin of 12.81% and a return on equity of 9.64%. The company had revenue of $373.91 million for the quarter, compared to the consensus estimate of $376.61 million. As a group, research analysts anticipate that RBC Bearings Incorporated will post 8.02 EPS for the current year.

RBC Bearings Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.