Avior Wealth Management LLC Sells 699 Shares of RBC Bearings Incorporated (NYSE:RBC)

Avior Wealth Management LLC lessened its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 17.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,236 shares of the industrial products company's stock after selling 699 shares during the quarter. Avior Wealth Management LLC's holdings in RBC Bearings were worth $1,041,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Torray Investment Partners LLC grew its stake in shares of RBC Bearings by 0.3% in the 4th quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company's stock worth $2,533,000 after purchasing an additional 28 shares during the last quarter. Townsquare Capital LLC grew its stake in RBC Bearings by 0.6% in the fourth quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company's stock valued at $1,694,000 after purchasing an additional 36 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in RBC Bearings by 6.4% in the fourth quarter. Rafferty Asset Management LLC now owns 713 shares of the industrial products company's stock worth $213,000 after buying an additional 43 shares during the last quarter. Argonautica Private Wealth Management Inc. raised its holdings in shares of RBC Bearings by 3.4% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company's stock valued at $418,000 after purchasing an additional 46 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of RBC Bearings by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company's stock worth $273,000 after acquiring an additional 47 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RBC. Truist Financial lifted their price target on shares of RBC Bearings from $405.00 to $431.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, RBC Bearings has an average rating of "Moderate Buy" and an average target price of $394.00.

Insider Activity at RBC Bearings

In related news, Director Michael H. Ambrose sold 595 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $367.32, for a total value of $218,555.40. Following the completion of the transaction, the director now owns 6,985 shares in the company, valued at $2,565,730.20. This trade represents a 7.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Daniel A. Bergeron sold 31,282 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the sale, the chief operating officer now directly owns 111,134 shares in the company, valued at $42,262,037.52. This trade represents a 21.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,973 shares of company stock valued at $29,186,872. 2.60% of the stock is owned by insiders.

RBC Bearings Trading Up 2.0%

Shares of RBC stock traded up $7.47 on Tuesday, reaching $388.72. The company had a trading volume of 221,633 shares, compared to its average volume of 160,129. RBC Bearings Incorporated has a 12 month low of $260.53 and a 12 month high of $390.60. 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 cap of $12.21 billion, a PE ratio of 50.68, a PEG ratio of 3.80 and a beta of 1.66. The company has a 50-day moving average of $355.74 and a 200-day moving average of $339.25.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.70 by $0.13. RBC Bearings had a return on equity of 10.08% and a net margin of 15.05%. The firm had revenue of $437.70 million during the quarter, compared to analysts' expectations of $440.26 million. During the same period in the previous year, the firm earned $2.47 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. On average, equities analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

RBC Bearings 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.