Callan Family Office LLC Has $486,000 Holdings in RBC Bearings Incorporated $RBC

Key Points

• Callan Family Office LLC has reduced its stake in RBC Bearings Incorporated by 37.5% during the first quarter, lowering its holdings to 1,510 shares valued at $486,000.
• Several institutional investors, including Park Avenue Securities LLC and New York State Teachers Retirement System, increased their holdings in RBC Bearings during the same quarter, indicating strong interest in the company.
• RBC Bearings reported earnings of $2.84 per share for the last quarter, surpassing analysts' expectations and reflecting a 7.3% year-over-year revenue growth.

Callan Family Office LLC trimmed its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 37.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,510 shares of the industrial products company's stock after selling 906 shares during the period. Callan Family Office LLC's holdings in RBC Bearings were worth $486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC raised its stake in shares of RBC Bearings by 50.8% in the 1st quarter. Park Avenue Securities LLC now owns 2,647 shares of the industrial products company's stock valued at $852,000 after purchasing an additional 892 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of RBC Bearings during the 1st quarter worth approximately $253,000. Deutsche Bank AG raised its position in shares of RBC Bearings by 2.9% during the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock worth $529,000 after purchasing an additional 49 shares during the period. New York State Teachers Retirement System raised its position in shares of RBC Bearings by 21.3% during the 1st quarter. New York State Teachers Retirement System now owns 5,700 shares of the industrial products company's stock worth $1,834,000 after purchasing an additional 1,000 shares during the period. Finally, Personal CFO Solutions LLC acquired a new stake in shares of RBC Bearings during the 1st quarter worth approximately $296,000.

RBC Bearings Stock Up 0.5%

Shares of NYSE:RBC traded up $1.91 during trading on Monday, reaching $396.66. 63,296 shares of the company traded hands, compared to its average volume of 165,359. The firm has a market cap of $12.52 billion, a P/E ratio of 50.11, a price-to-earnings-growth ratio of 3.06 and a beta of 1.71. RBC Bearings Incorporated has a 1-year low of $272.50 and a 1-year high of $416.33. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $386.70 and a 200 day simple moving average of $360.97.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.10. The business had revenue of $436.00 million for the quarter, compared to analyst estimates of $432.63 million. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $2.54 EPS. Analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Insider Activity at RBC Bearings

In other RBC Bearings news, Director Michael H. Ambrose sold 595 shares of RBC Bearings stock in a transaction 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 sale, the director directly owned 6,985 shares of the company's stock, valued at approximately $2,565,730.20. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 26,725 shares of RBC Bearings stock in a transaction on Monday, June 9th. The shares were sold at an average price of $381.09, for a total transaction of $10,184,630.25. Following the completion of the sale, the chief executive officer directly owned 316,853 shares of the company's stock, valued at approximately $120,749,509.77. This trade represents a 7.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,716 shares of company stock worth $48,818,116 in the last 90 days. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. The Goldman Sachs Group upped their price objective on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft began coverage on RBC Bearings in a research note on Wednesday, July 16th. They set a "buy" rating and a $480.00 price objective for the company. KeyCorp raised their price target on shares of RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Morgan Stanley restated an "overweight" rating and issued a $415.00 price target (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Finally, Truist Financial raised their price target on shares of RBC Bearings from $431.00 to $455.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $425.17.

About RBC Bearings

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.