Lindenwold Advisors INC Sells 130 Shares of RBC Bearings Incorporated $RBC

Lindenwold Advisors INC reduced its position in RBC Bearings Incorporated (NYSE:RBC) by 15.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 730 shares of the industrial products company’s stock after selling 130 shares during the quarter. Lindenwold Advisors INC’s holdings in RBC Bearings were worth $281,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. NBC Securities Inc. bought a new position in shares of RBC Bearings in the first quarter valued at approximately $25,000. Advisors Asset Management Inc. bought a new position in shares of RBC Bearings in the first quarter valued at approximately $26,000. Golden State Wealth Management LLC boosted its position in shares of RBC Bearings by 107.1% in the first quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company’s stock valued at $85,000 after acquiring an additional 136 shares during the period. IFP Advisors Inc lifted its position in RBC Bearings by 51.6% during the second quarter. IFP Advisors Inc now owns 291 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 99 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in RBC Bearings by 80.8% during the first quarter. UMB Bank n.a. now owns 311 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 139 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of RBC Bearings from $375.00 to $416.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Truist Financial lifted their target price on shares of RBC Bearings from $431.00 to $455.00 and gave the company a “buy” rating in a research report on Monday, August 4th. KeyCorp lifted their target price on shares of RBC Bearings from $405.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft set a $503.00 target price on shares of RBC Bearings and gave the company a “buy” rating in a research report on Wednesday. Finally, Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Six 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 stock has a consensus rating of “Moderate Buy” and an average target price of $429.00.

Insider Buying and Selling at RBC Bearings

In related 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 value of $40,197.15. Following the sale, the vice president owned 2,666 shares in the company, valued at $1,020,624.78. The trade was a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Daniel A. Bergeron sold 48,743 shares of RBC Bearings stock in a transaction 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 completion of the sale, the chief operating officer owned 111,134 shares in the company, valued at approximately $44,759,218.50. This trade represents a 30.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

RBC Bearings Stock Down 2.8%

Shares of NYSE RBC opened at $373.51 on Friday. 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 $272.50 and a 52 week high of $416.33. The firm’s fifty day moving average is $388.69 and its 200 day moving average is $369.71. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 47.04, a PEG ratio of 2.98 and a beta of 1.71.

RBC Bearings (NYSE:RBC) last issued 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 company had revenue of $156.21 million for the quarter. On average, equities research analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

RBC Bearings Company 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.