RBC Bearings Incorporated $RBC Shares Sold by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC reduced its stake in RBC Bearings by 4.4% during the first quarter, now holding approximately $12.93 million across 40,177 shares.
• CEO Michael J. Hartnett sold 9,000 shares for about $3.34 million, resulting in a 2.89% drop in his ownership, while insider transactions over the quarter totaled over $25 million.
• RBC Bearings reported a quarterly EPS of $2.84, surpassing estimates, and has recently received positive ratings from multiple research firms, with a consensus price target increased to $425.17.

Axiom Investors LLC DE cut its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 4.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,177 shares of the industrial products company's stock after selling 1,863 shares during the quarter. Axiom Investors LLC DE owned about 0.13% of RBC Bearings worth $12,928,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. United Services Automobile Association purchased a new stake in shares of RBC Bearings during the first quarter worth about $635,000. Goldman Sachs Group Inc. increased its position in shares of RBC Bearings by 2.0% during the first quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company's stock worth $68,133,000 after acquiring an additional 4,253 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of RBC Bearings by 64.1% during the first quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company's stock worth $357,000 after acquiring an additional 434 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of RBC Bearings by 77.8% during the first quarter. Dynamic Technology Lab Private Ltd now owns 2,079 shares of the industrial products company's stock worth $669,000 after acquiring an additional 910 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of RBC Bearings by 4.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 208,308 shares of the industrial products company's stock worth $67,028,000 after acquiring an additional 7,981 shares during the last quarter.

RBC Bearings Stock Down 2.5%

NYSE RBC traded down $9.74 on Friday, hitting $375.35. 133,571 shares of the stock traded hands, compared to its average volume of 164,881. The stock has a 50-day moving average of $391.19 and a 200 day moving average of $364.66. RBC Bearings Incorporated has a twelve month low of $272.50 and a twelve month high of $416.33. The company has a market capitalization of $11.85 billion, a P/E ratio of 47.27, a price-to-earnings-growth ratio of 2.98 and a beta of 1.73. The company has a current ratio of 3.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.29.

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, beating the consensus estimate of $2.74 by $0.10. The company had revenue of $436.00 million during the quarter, compared to analyst estimates of $432.63 million. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The business's revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.54 earnings per share. RBC Bearings has set its Q2 2026 guidance at EPS. As a group, analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of 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 report on Wednesday, August 13th. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 target price (up from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. KeyCorp lifted their target price on RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Truist Financial upped their price objective on RBC Bearings from $431.00 to $455.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on RBC Bearings in a research note on Wednesday, July 16th. They set a "buy" rating and a $480.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $425.17.

Insider Activity at RBC Bearings

In other news, Director Michael H. Ambrose sold 595 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $367.32, for a total transaction of $218,555.40. Following the completion of the transaction, the director directly owned 6,985 shares in the company, valued at approximately $2,565,730.20. The trade was a 7.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Daniel A. Bergeron sold 48,743 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $402.75, for a total value of $19,631,243.25. Following the transaction, the chief operating officer owned 111,134 shares of the company's stock, valued at approximately $44,759,218.50. This represents a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

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.