Ameriprise Financial Inc. Has $175.52 Million Stake in RBC Bearings Incorporated $RBC

Key Points

• Ameriprise Financial Inc. increased its stake in RBC Bearings by 2.0%, owning 545,412 shares valued at approximately $175.52 million by the end of the last quarter.
• COO Daniel A. Bergeron sold 48,743 shares of RBC Bearings, resulting in a 30.49% decrease in his position, while insider sales in the last quarter totaled $48.8 million.
• Recent analyst ratings for RBC Bearings have improved, with Zacks Research upgrading the stock to a "strong-buy" and multiple analysts raising their target prices, indicating a consensus rating of "Moderate Buy."

Ameriprise Financial Inc. raised its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 545,412 shares of the industrial products company's stock after purchasing an additional 10,531 shares during the period. Ameriprise Financial Inc. owned 1.74% of RBC Bearings worth $175,515,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of RBC. GAMMA Investing LLC lifted its position in RBC Bearings by 38,860.9% during the first quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company's stock worth $64,813,000 after purchasing an additional 200,911 shares during the period. Nuveen LLC acquired a new position in shares of RBC Bearings in the first quarter valued at approximately $20,847,000. Durable Capital Partners LP increased its stake in shares of RBC Bearings by 1.9% in the fourth quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company's stock valued at $787,141,000 after buying an additional 48,287 shares during the period. Northern Trust Corp increased its stake in shares of RBC Bearings by 18.2% in the fourth quarter. Northern Trust Corp now owns 276,340 shares of the industrial products company's stock valued at $82,664,000 after buying an additional 42,459 shares during the period. Finally, Invesco Ltd. increased its stake in shares of RBC Bearings by 11.2% in the first quarter. Invesco Ltd. now owns 260,924 shares of the industrial products company's stock valued at $83,958,000 after buying an additional 26,338 shares during the period.

Insiders Place Their Bets

In other news, COO Daniel A. Bergeron sold 48,743 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $402.75, for a total transaction of $19,631,243.25. Following the completion of the sale, the chief operating officer directly owned 111,134 shares of the company's stock, valued at $44,759,218.50. This trade represents a 30.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven H. Kaplan sold 400 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $381.30, for a total value of $152,520.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,716 shares of company stock valued at $48,818,116. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RBC shares. Zacks Research raised RBC Bearings from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Truist Financial increased their target price on shares of RBC Bearings from $431.00 to $455.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Morgan Stanley reissued an "overweight" rating and set a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of RBC Bearings in a research report on Wednesday, July 16th. They set a "buy" rating and a $480.00 target price for the company. Finally, KeyCorp raised their price objective on shares of RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $425.17.

RBC Bearings Price Performance

Shares of NYSE:RBC opened at $401.5590 on Friday. The company has a current ratio of 3.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.29. The stock's fifty day simple moving average is $388.80 and its two-hundred day simple moving average is $362.13. RBC Bearings Incorporated has a 1-year low of $272.50 and a 1-year high of $416.33. The stock has a market cap of $12.67 billion, a PE ratio of 50.57, a price-to-earnings-growth ratio of 3.11 and a beta of 1.71.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its earnings results on Friday, August 1st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.10. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The firm had revenue of $436.00 million during the quarter, compared to analyst estimates of $432.63 million. During the same period last year, the firm posted $2.54 EPS. The business's revenue was up 7.3% compared to the same quarter last year. RBC Bearings has set its Q2 2026 guidance at EPS. As a group, analysts forecast that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

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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