Davis R M Inc. Sells 2,014 Shares of RBC Bearings Incorporated $RBC

Davis R M Inc. decreased its stake in RBC Bearings Incorporated (NYSE:RBC) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,969 shares of the industrial products company’s stock after selling 2,014 shares during the period. Davis R M Inc. owned 0.12% of RBC Bearings worth $20,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new stake in RBC Bearings in the first quarter valued at approximately $26,000. SBI Securities Co. Ltd. increased its position in RBC Bearings by 106.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 33 shares during the period. Larson Financial Group LLC raised its holdings in RBC Bearings by 148.5% during the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 49 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in RBC Bearings during the 4th quarter worth approximately $35,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of RBC Bearings by 123.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 53 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RBC shares. Wall Street Zen lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Truist Financial reissued a “buy” rating and set a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Weiss Ratings raised shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 15th. Finally, Morgan Stanley increased their price target on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, RBC Bearings has a consensus rating of “Moderate Buy” and an average price target of $584.00.

Insider Transactions at RBC Bearings

In other news, VP John J. Feeney sold 225 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $657.94, for a total value of $148,036.50. Following the completion of the sale, the vice president directly owned 2,378 shares in the company, valued at $1,564,581.32. This trade represents a 8.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Edward Stewart sold 600 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total value of $355,698.00. Following the completion of the sale, the director owned 21,337 shares of the company’s stock, valued at approximately $12,649,213.71. This represents a 2.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,425 shares of company stock valued at $885,400 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

RBC Bearings Stock Performance

NYSE:RBC opened at $590.39 on Thursday. The company has a fifty day moving average of $597.15 and a 200-day moving average of $566.13. The firm has a market capitalization of $18.68 billion, a P/E ratio of 64.95, a P/E/G ratio of 3.34 and a beta of 1.40. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. RBC Bearings Incorporated has a twelve month low of $364.50 and a twelve month high of $667.69.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.31. The business had revenue of $518.00 million for the quarter, compared to analyst estimates of $505.90 million. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. RBC Bearings’s revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.83 earnings per share. As a group, sell-side analysts anticipate that RBC Bearings Incorporated will post 13.66 EPS for the current year.

About RBC Bearings

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.