Swiss National Bank Has $21.97 Million Stock Position in RBC Bearings Incorporated $RBC

Swiss National Bank lessened its holdings in RBC Bearings Incorporated (NYSE:RBC) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,090 shares of the industrial products company’s stock after selling 700 shares during the period. Swiss National Bank owned 0.18% of RBC Bearings worth $21,968,000 at the end of the most recent reporting period.

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

RBC Bearings Stock Up 3.1%

Shares of RBC opened at $443.26 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33. The company has a 50-day simple moving average of $402.90 and a 200-day simple moving average of $390.28. RBC Bearings Incorporated has a 52 week low of $290.56 and a 52 week high of $448.74. The firm has a market capitalization of $14.01 billion, a P/E ratio of 55.83, a P/E/G ratio of 3.16 and a beta of 1.73.

RBC Bearings (NYSE:RBC) last released its earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share 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%. On average, equities research analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Insider Activity at RBC Bearings

In related news, Director Steven H. Kaplan sold 700 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total value of $310,100.00. Following the completion of the transaction, the director directly owned 1,999 shares in the company, valued at approximately $885,557. This represents a 25.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John J. Feeney sold 105 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $382.83, for a total value of $40,197.15. Following the completion of the transaction, the vice president directly owned 2,666 shares of the company’s stock, valued at approximately $1,020,624.78. This trade represents a 3.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RBC. Deutsche Bank Aktiengesellschaft set a $503.00 price objective on shares of RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and upped their price target for the company from $390.00 to $500.00 in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday. Finally, Truist Financial reiterated a “buy” rating and issued a $471.00 price objective (up from $455.00) on shares of RBC Bearings in a research note on Monday, November 3rd. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $459.17.

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.