Callan Family Office LLC Acquires 12,529 Shares of RBC Bearings Incorporated $RBC

Key Points

• Callan Family Office LLC increased its holdings in RBC Bearings by 829.7% during the second quarter, acquiring an additional 12,529 shares for a total worth of approximately $5.4 million.
• RBC Bearings' COO, Daniel A. Bergeron, sold 48,743 shares at an average price of $402.75, representing a 30.49% decrease in his position, while other executives also made sales.
• Analysts have mixed sentiments about RBC Bearings, with ratings varying from a "buy" to a "hold," and a target price averaging around $429.00.

Callan Family Office LLC grew its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 829.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,039 shares of the industrial products company's stock after buying an additional 12,529 shares during the period. Callan Family Office LLC's holdings in RBC Bearings were worth $5,402,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NBC Securities Inc. bought a new position in shares of RBC Bearings during the 1st quarter worth approximately $25,000. Advisors Asset Management Inc. bought a new position in shares of RBC Bearings during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC boosted its holdings in shares of RBC Bearings by 107.1% during the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company's stock worth $85,000 after buying an additional 136 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of RBC Bearings by 80.8% during the 1st quarter. UMB Bank n.a. now owns 311 shares of the industrial products company's stock worth $100,000 after buying an additional 139 shares in the last quarter. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of RBC Bearings by 19.8% during the 2nd quarter. Harbor Investment Advisory LLC now owns 327 shares of the industrial products company's stock worth $126,000 after buying an additional 54 shares in the last quarter.

Insider Buying and Selling at RBC Bearings

In other news, COO Daniel A. Bergeron sold 48,743 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $402.75, for a total transaction of $19,631,243.25. Following the completion of the sale, the chief operating officer directly owned 111,134 shares of the company's stock, valued at $44,759,218.50. This trade represents a 30.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP John J. Feeney sold 105 shares of the firm's stock in a transaction on Friday, September 26th. The shares were sold at an average price of $382.83, for a total value of $40,197.15. Following the sale, the vice president directly owned 2,666 shares of the company's stock, valued at approximately $1,020,624.78. This represents a 3.79% 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 company insiders.

Analyst Upgrades and Downgrades

RBC has been the topic of a number of research analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of RBC Bearings in a report on Wednesday. Truist Financial increased their target price on RBC Bearings from $431.00 to $455.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $503.00 target price on RBC Bearings and gave the stock a "buy" rating in a report on Wednesday. Zacks Research cut RBC Bearings from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Finally, The Goldman Sachs Group increased their target price on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $429.00.

RBC Bearings Price Performance

Shares of NYSE:RBC opened at $373.51 on Friday. 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 stock's fifty day simple moving average is $388.69 and its two-hundred day simple moving average is $369.71. RBC Bearings Incorporated has a 1-year low of $272.50 and a 1-year high of $416.33. The stock has a market cap of $11.79 billion, a PE ratio of 47.04, a price-to-earnings-growth ratio of 2.98 and a beta of 1.71.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The business had revenue of $156.21 million for the quarter. As a group, analysts forecast 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.

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