13,310 Shares in RBC Bearings Incorporated (NYSE:RBC) Purchased by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired 13,310 shares of RBC Bearings, valued at approximately $4.28 million, indicating strong institutional interest in the company.
• RBC Bearings reported a quarterly earnings per share (EPS) of $2.83, surpassing analysts' expectations, and achieved a revenue of $437.70 million, reflecting a 5.8% year-over-year increase.
• Analysts have raised their price targets for RBC Bearings, with KeyCorp setting a new target at $450.00, reflecting positive sentiment toward the stock's performance.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,310 shares of the industrial products company's stock, valued at approximately $4,283,000.

Other institutional investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC lifted its stake in RBC Bearings by 50.8% during the first quarter. Park Avenue Securities LLC now owns 2,647 shares of the industrial products company's stock worth $852,000 after purchasing an additional 892 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in RBC Bearings during the first quarter worth about $253,000. Deutsche Bank AG lifted its stake in RBC Bearings by 2.9% during the fourth quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock worth $529,000 after purchasing an additional 49 shares during the period. New York State Teachers Retirement System lifted its stake in RBC Bearings by 21.3% during the first quarter. New York State Teachers Retirement System now owns 5,700 shares of the industrial products company's stock worth $1,834,000 after purchasing an additional 1,000 shares during the period. Finally, Personal CFO Solutions LLC bought a new position in RBC Bearings during the first quarter worth about $296,000.

RBC Bearings Stock Performance

NYSE:RBC opened at $386.39 on Tuesday. RBC Bearings Incorporated has a 1 year low of $260.53 and a 1 year high of $402.22. The firm has a 50 day moving average of $378.41 and a 200-day moving average of $352.59. The company has a current ratio of 3.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $12.14 billion, a P/E ratio of 50.38, a price-to-earnings-growth ratio of 3.19 and a beta of 1.65.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts' consensus estimates of $2.70 by $0.13. The business had revenue of $437.70 million during the quarter, compared to analyst estimates of $440.26 million. RBC Bearings had a net margin of 15.05% and a return on equity of 10.08%. RBC Bearings's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.47 earnings per share. As a group, sell-side analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on RBC shares. KeyCorp raised their price target on shares of RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group raised their price target on shares of RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Morgan Stanley restated an "overweight" rating and set a $415.00 price target (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of RBC Bearings in a research note on Wednesday, July 16th. They issued a "buy" rating and a $480.00 target price for the company. Finally, Truist Financial lifted their target price on shares of RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, RBC Bearings has a consensus rating of "Moderate Buy" and a consensus target price of $421.17.

Insider Activity at RBC Bearings

In related news, CEO Michael J. Hartnett sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $371.37, for a total value of $3,342,330.00. Following the completion of the sale, the chief executive officer owned 302,853 shares of the company's stock, valued at $112,470,518.61. This trade represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven H. Kaplan sold 400 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $381.30, for a total transaction of $152,520.00. Following the completion of the sale, the director directly owned 2,499 shares of the company's stock, valued at approximately $952,868.70. This represents a 13.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,973 shares of company stock worth $29,186,872. 2.60% of the stock is currently owned by company insiders.

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.

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