Brown Advisory Inc. Sells 990 Shares of RBC Bearings Incorporated (NYSE:RBC)

Brown Advisory Inc. decreased its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 60.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 654 shares of the industrial products company's stock after selling 990 shares during the quarter. Brown Advisory Inc.'s holdings in RBC Bearings were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in RBC Bearings by 1.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,830 shares of the industrial products company's stock valued at $1,445,000 after buying an additional 87 shares during the period. HighTower Advisors LLC increased its stake in RBC Bearings by 2.5% during the fourth quarter. HighTower Advisors LLC now owns 8,376 shares of the industrial products company's stock worth $2,505,000 after purchasing an additional 206 shares during the period. Swiss National Bank grew its position in shares of RBC Bearings by 1.3% during the fourth quarter. Swiss National Bank now owns 54,590 shares of the industrial products company's stock worth $16,330,000 after buying an additional 700 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of RBC Bearings by 2.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,243 shares of the industrial products company's stock worth $970,000 after buying an additional 78 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of RBC Bearings by 7.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,350 shares of the industrial products company's stock worth $2,199,000 after buying an additional 524 shares in the last quarter.

Insider Transactions at RBC Bearings

In related news, CEO Michael J. Hartnett sold 9,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $371.37, for a total transaction of $3,342,330.00. Following the transaction, the chief executive officer directly owned 302,853 shares of the company's stock, valued at approximately $112,470,518.61. The trade was a 2.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 value of $218,555.40. Following the transaction, the director directly owned 6,985 shares in the company, valued at $2,565,730.20. This trade 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 76,973 shares of company stock worth $29,186,872 over the last 90 days. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RBC shares. Truist Financial increased their price objective on RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Morgan Stanley reissued an "overweight" rating and issued a $415.00 price objective (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft began coverage on RBC Bearings in a research note on Wednesday. They set a "buy" rating and a $480.00 price target for the company. KeyCorp upped their price target on RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, The Goldman Sachs Group upped their price target on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $421.17.

RBC Bearings Price Performance

Shares of RBC traded up $0.10 during trading hours on Friday, reaching $397.13. 182,095 shares of the company traded hands, compared to its average volume of 160,440. The company has a quick ratio of 1.18, a current ratio of 3.26 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $12.47 billion, a PE ratio of 51.78, a price-to-earnings-growth ratio of 4.04 and a beta of 1.65. RBC Bearings Incorporated has a fifty-two week low of $260.53 and a fifty-two week high of $402.22. The stock has a fifty day simple moving average of $375.94 and a 200 day simple moving average of $348.42.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $440.26 million. During the same period last year, the company earned $2.47 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. As a group, research analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

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.