Ameriprise Financial Inc. Raises Position 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. lifted its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 2.0% in the 1st quarter, according to its most recent Form 13F filing 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 quarter. Ameriprise Financial Inc. owned 1.74% of RBC Bearings worth $175,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Quantbot Technologies LP raised its stake in shares of RBC Bearings by 153.2% in the first quarter. Quantbot Technologies LP now owns 8,306 shares of the industrial products company's stock worth $2,673,000 after purchasing an additional 5,025 shares during the last quarter. Cresset Asset Management LLC grew its holdings in shares of RBC Bearings by 13.6% in the first quarter. Cresset Asset Management LLC now owns 39,630 shares of the industrial products company's stock worth $12,752,000 after acquiring an additional 4,759 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in shares of RBC Bearings by 4.7% in the first quarter. State of New Jersey Common Pension Fund D now owns 10,277 shares of the industrial products company's stock worth $3,307,000 after acquiring an additional 457 shares during the period. Cookson Peirce & Co. Inc. bought a new stake in shares of RBC Bearings in the first quarter worth $738,000. Finally, Vestmark Advisory Solutions Inc. grew its holdings in shares of RBC Bearings by 91.4% in the first quarter. Vestmark Advisory Solutions Inc. now owns 18,470 shares of the industrial products company's stock worth $5,943,000 after acquiring an additional 8,821 shares during the period.

RBC Bearings Price Performance

Shares of NYSE:RBC traded down $7.04 during mid-day trading on Friday, reaching $391.68. The stock had a trading volume of 33,358 shares, compared to its average volume of 166,321. 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 company has a market cap of $12.36 billion, a P/E ratio of 49.33, a price-to-earnings-growth ratio of 3.09 and a beta of 1.71. RBC Bearings Incorporated has a 1 year low of $272.50 and a 1 year high of $416.33. The business's 50 day moving average price is $391.15 and its 200 day moving average price is $363.13.

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

Analyst Ratings Changes

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on RBC Bearings in a report on Wednesday, July 16th. They issued a "buy" rating and a $480.00 price objective for the company. Truist Financial lifted their price objective on RBC Bearings from $431.00 to $455.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Zacks Research raised RBC Bearings from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. The Goldman Sachs Group lifted their price objective on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Finally, KeyCorp lifted their price objective on RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. One equities research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $425.17.

Insider Transactions at RBC Bearings

In related news, Director Steven H. Kaplan sold 400 shares of the business's stock in a transaction dated Monday, June 9th. The stock was 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 in the company, valued at approximately $952,868.70. The trade was a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael H. Ambrose sold 595 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $367.32, for a total value of $218,555.40. Following the completion of the sale, the director owned 6,985 shares in the company, valued at $2,565,730.20. This represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 125,716 shares of company stock valued at $48,818,116 over the last three months. Corporate insiders own 1.90% of the company's stock.

RBC Bearings Company 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.