Amundi Sells 9,461 Shares of RBC Bearings Incorporated $RBC

Amundi reduced its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 81.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,162 shares of the industrial products company's stock after selling 9,461 shares during the quarter. Amundi's holdings in RBC Bearings were worth $1,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RBC. Advisors Asset Management Inc. bought a new position in shares of RBC Bearings in the first quarter valued at approximately $26,000. SBI Securities Co. Ltd. grew its holdings in RBC Bearings by 106.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company's stock worth $29,000 after buying an additional 33 shares in the last quarter. Larson Financial Group LLC raised its position in RBC Bearings by 148.5% in the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company's stock valued at $32,000 after buying an additional 49 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in RBC Bearings by 123.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company's stock valued at $37,000 after buying an additional 53 shares during the last quarter. Finally, Millstone Evans Group LLC lifted its stake in RBC Bearings by 45.3% during the 1st quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 24 shares in the last quarter.

RBC Bearings Stock Up 0.2%

RBC opened at $567.91 on Friday. RBC Bearings Incorporated has a twelve month low of $364.50 and a twelve month high of $667.69. The company's 50-day moving average price is $597.07 and its two-hundred day moving average price is $573.11. The stock has a market cap of $17.98 billion, a price-to-earnings ratio of 56.12, a PEG ratio of 3.07 and a beta of 1.40. The company has a quick ratio of 0.98, a current ratio of 2.53 and a debt-to-equity ratio of 0.21.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The industrial products company reported $3.88 EPS for the quarter, topping analysts' consensus estimates of $3.42 by $0.46. RBC Bearings had a net margin of 16.40% and a return on equity of 12.06%. The company had revenue of $519.50 million for the quarter, compared to analysts' expectations of $508.92 million. During the same quarter in the previous year, the firm posted $2.84 EPS. RBC Bearings's revenue was up 19.2% on a year-over-year basis. As a group, equities analysts expect that RBC Bearings Incorporated will post 14.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RBC. Royal Bank Of Canada set a $645.00 price target on shares of RBC Bearings in a report on Monday, August 3rd. Weiss Ratings cut shares of RBC Bearings from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 30th. Zacks Research downgraded RBC Bearings from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 3rd. Wall Street Zen raised RBC Bearings from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Truist Financial increased their price target on RBC Bearings from $615.00 to $646.00 and gave the company a "buy" rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $623.00.

Insider Transactions at RBC Bearings

In other RBC Bearings news, VP John J. Feeney sold 225 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $657.94, for a total transaction of $148,036.50. Following the sale, the vice president owned 2,378 shares in the company, valued at $1,564,581.32. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward Stewart sold 600 shares of RBC Bearings stock in a transaction on 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 transaction, the director owned 21,337 shares of the company's stock, valued at approximately $12,649,213.71. This trade represents a 2.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,425 shares of company stock worth $885,400 over the last quarter. Corporate insiders own 1.80% of the company's stock.

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.

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