RBC Bearings Incorporated (NYSE:RBC) Stake Cut by Cwm LLC

Cwm LLC reduced its holdings in RBC Bearings Incorporated (NYSE:RBC) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,655 shares of the industrial products company’s stock after selling 579 shares during the period. Cwm LLC’s holdings in RBC Bearings were worth $2,750,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Portside Wealth Group LLC increased its position in RBC Bearings by 4.8% in the 3rd quarter. Portside Wealth Group LLC now owns 1,104 shares of the industrial products company’s stock worth $258,000 after purchasing an additional 51 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of RBC Bearings by 16.1% during the 3rd quarter. Global Retirement Partners LLC now owns 383 shares of the industrial products company’s stock valued at $90,000 after acquiring an additional 53 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of RBC Bearings by 14.3% during the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 53 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in shares of RBC Bearings by 0.9% during the 3rd quarter. DAVENPORT & Co LLC now owns 7,018 shares of the industrial products company’s stock valued at $1,643,000 after acquiring an additional 63 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in shares of RBC Bearings by 2.1% during the 4th quarter. Bleakley Financial Group LLC now owns 3,197 shares of the industrial products company’s stock valued at $911,000 after acquiring an additional 66 shares during the last quarter.

RBC Bearings Price Performance

Shares of RBC stock opened at $244.90 on Thursday. The stock has a 50 day moving average of $264.26 and a two-hundred day moving average of $258.69. 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 12 month low of $195.18 and a 12 month high of $288.16. The company has a market capitalization of $6.90 billion, a P/E ratio of 40.95, a P/E/G ratio of 4.68 and a beta of 1.45.

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

Analysts Set New Price Targets

RBC has been the topic of a number of analyst reports. Citigroup increased their price objective on RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Truist Financial increased their price objective on RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, RBC Bearings currently has an average rating of “Moderate Buy” and an average target price of $275.86.

Insider Buying and Selling

In related news, COO Daniel A. Bergeron sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 in the company, valued at approximately $32,583,470.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.90% of the stock is owned by corporate insiders.

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.