Campbell & CO Investment Adviser LLC Sells 256 Shares of RBC Bearings Incorporated $RBC

Campbell & CO Investment Adviser LLC lessened its holdings in RBC Bearings Incorporated (NYSE:RBC) by 7.0% during the second quarter, HoldingsChannel reports. The firm owned 3,391 shares of the industrial products company’s stock after selling 256 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in RBC Bearings were worth $1,305,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new stake in shares of RBC Bearings during the 1st quarter worth $26,000. Hantz Financial Services Inc. grew its position in RBC Bearings by 1,257.1% in the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 88 shares during the last quarter. AlphaQuest LLC acquired a new position in RBC Bearings during the second quarter worth about $83,000. SVB Wealth LLC bought a new position in shares of RBC Bearings in the first quarter worth about $111,000. Finally, IFP Advisors Inc boosted its stake in shares of RBC Bearings by 51.6% in the 2nd 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 in the last quarter.

Wall Street Analysts Forecast Growth

RBC has been the subject of a number of research analyst reports. Truist Financial reiterated a “buy” rating and set a $471.00 price objective (up from $455.00) on shares of RBC Bearings in a research report on Monday, November 3rd. 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 report on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of RBC Bearings in a report on Wednesday, October 8th. Zacks Research lowered RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, KeyCorp increased their target price on RBC Bearings from $405.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $459.17.

RBC Bearings Price Performance

Shares of RBC opened at $442.51 on Wednesday. The business has a 50-day moving average of $392.82 and a 200-day moving average of $383.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.33 and a quick ratio of 1.33. The company has a market capitalization of $13.99 billion, a price-to-earnings ratio of 55.73, a price-to-earnings-growth ratio of 3.16 and a beta of 1.73. RBC Bearings Incorporated has a 1 year low of $290.56 and a 1 year high of $444.21.

RBC Bearings (NYSE:RBC) last announced its earnings results on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. The business had revenue of $156.21 million for the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%. As a group, equities research analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Insider Activity at RBC Bearings

In other news, VP John J. Feeney sold 105 shares of the 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 directly owned 2,666 shares in the company, valued at $1,020,624.78. This represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

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.