Charles Schwab Investment Management Inc. Has $100.41 Million Holdings in RBC Bearings Incorporated (NYSE:RBC)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 312,062 shares of the industrial products company's stock after selling 4,178 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.99% of RBC Bearings worth $100,412,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Townsquare Capital LLC raised its position in RBC Bearings by 0.6% during the 4th quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company's stock worth $1,694,000 after buying an additional 36 shares during the last quarter. Rafferty Asset Management LLC raised 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 valued at $213,000 after buying an additional 43 shares during the period. First Bank & Trust raised its stake in shares of RBC Bearings by 2.1% during the first quarter. First Bank & Trust now owns 2,165 shares of the industrial products company's stock valued at $697,000 after purchasing an additional 44 shares during the period. Deutsche Bank AG boosted its holdings in RBC Bearings by 2.9% in the fourth 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. Finally, Xponance Inc. boosted its holdings in shares of RBC Bearings by 1.5% during the first quarter. Xponance Inc. now owns 3,491 shares of the industrial products company's stock valued at $1,123,000 after acquiring an additional 51 shares during the period.

RBC Bearings Stock Performance

RBC traded down $6.60 during midday trading on Friday, hitting $395.32. 141,298 shares of the company were exchanged, compared to its average volume of 163,398. The company's 50 day simple moving average is $386.70 and its 200 day simple moving average is $360.70. 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 Incorporated has a 1-year low of $272.50 and a 1-year high of $416.33. The firm has a market capitalization of $12.48 billion, a price-to-earnings ratio of 49.79, a price-to-earnings-growth ratio of 3.06 and a beta of 1.71.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly 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. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. The company had revenue of $436.00 million during the quarter, compared to analysts' expectations of $432.63 million. During the same quarter last year, the company posted $2.54 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Insider Activity at RBC Bearings

In other news, CEO Michael J. Hartnett sold 26,725 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $381.09, for a total value of $10,184,630.25. Following the completion of the sale, the chief executive officer directly owned 316,853 shares in the company, valued at approximately $120,749,509.77. The trade was a 7.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Daniel A. Bergeron sold 48,743 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $44,759,218.50. The trade was a 30.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,716 shares of company stock worth $48,818,116. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RBC has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price objective on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft began coverage on RBC Bearings in a report on Wednesday, July 16th. They set a "buy" rating and a $480.00 price objective on the stock. KeyCorp upped their price objective on RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. 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. Finally, Morgan Stanley reissued an "overweight" rating and set a $415.00 price target (up from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $425.17.

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.