Universal Beteiligungs und Servicegesellschaft mbH Buys 882 Shares of RBC Bearings Incorporated $RBC

Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 6.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,192 shares of the industrial products company’s stock after buying an additional 882 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in RBC Bearings were worth $5,461,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RBC. HB Wealth Management LLC bought a new position in RBC Bearings during the 2nd quarter worth about $237,000. Machina Capital S.A.S. acquired a new position in shares of RBC Bearings during the second quarter worth about $352,000. Jump Financial LLC acquired a new position in shares of RBC Bearings during the first quarter worth about $254,000. Atria Wealth Solutions Inc. bought a new position in shares of RBC Bearings during the first quarter worth about $414,000. Finally, LPL Financial LLC raised its position in RBC Bearings by 28.4% in the 1st quarter. LPL Financial LLC now owns 34,447 shares of the industrial products company’s stock valued at $10,962,000 after buying an additional 7,614 shares during the last quarter.

Insider Buying and Selling at RBC Bearings

In other news, Director Steven H. Kaplan sold 700 shares of the 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 transaction, the director directly owned 1,999 shares of the company’s stock, valued at $885,557. This represents a 25.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John J. Feeney sold 105 shares of the firm’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $382.83, for a total transaction of $40,197.15. Following the sale, the vice president owned 2,666 shares of the company’s stock, valued at approximately $1,020,624.78. This represents a 3.79% decrease in their position. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by insiders.

RBC Bearings Stock Down 0.2%

Shares of RBC stock opened at $426.91 on Friday. 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 $13.50 billion, a price-to-earnings ratio of 53.77, a PEG ratio of 3.16 and a beta of 1.73. The firm’s 50-day moving average is $400.63 and its 200-day moving average is $388.38. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft set a $503.00 price target on RBC Bearings and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and increased their target price 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 research report on Monday. Truist Financial restated a “buy” rating and issued a $471.00 price objective (up previously from $455.00) on shares of RBC Bearings in a report on Monday, November 3rd. Finally, Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $459.17.

RBC Bearings 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.