Comerica Bank Grows Stock Holdings in RBC Bearings Incorporated $RBC

Key Points

• Comerica Bank increased its stake in RBC Bearings by 8.1% during Q1, now holding 82,600 shares valued at approximately $26.58 million.
• Multiple analysts have upgraded RBC Bearings, with a consensus rating of "Moderate Buy" and an average target price of $425.17.
• The CEO of RBC Bearings, Michael J. Hartnett, recently sold shares worth over $10 million, representing a 7.78% decrease in ownership.

Comerica Bank increased its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,600 shares of the industrial products company's stock after buying an additional 6,223 shares during the quarter. Comerica Bank owned 0.26% of RBC Bearings worth $26,578,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in shares of RBC Bearings during the first quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in RBC Bearings by 109.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 59 shares during the period. Golden State Wealth Management LLC raised its position in 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 valued at $85,000 after purchasing an additional 136 shares during the last quarter. UMB Bank n.a. grew its position in shares of RBC Bearings by 80.8% in 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 during the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of RBC Bearings during the first quarter valued at approximately $111,000.

Analyst Ratings Changes

RBC has been the topic of several recent analyst reports. Truist Financial lifted their price target on shares of RBC Bearings from $431.00 to $455.00 and gave the company a "buy" rating in a report on Monday, August 4th. The Goldman Sachs Group boosted their price target on shares of RBC Bearings from $375.00 to $416.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. KeyCorp raised their price objective on shares of RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley reiterated an "overweight" rating and set a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on RBC Bearings in a research note on Wednesday, July 16th. They issued a "buy" rating and a $480.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $425.17.

Insiders Place Their Bets

In other news, Director Steven H. Kaplan sold 400 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $381.30, for a total value of $152,520.00. Following the sale, the director directly owned 2,499 shares in the company, valued at approximately $952,868.70. This represents a 13.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael H. Ambrose sold 595 shares of the company's stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 125,716 shares of company stock worth $48,818,116. Corporate insiders own 1.90% of the company's stock.

RBC Bearings Stock Performance

Shares of NYSE RBC traded down $1.61 during trading on Thursday, hitting $397.92. The company had a trading volume of 151,100 shares, compared to its average volume of 167,147. The firm has a market capitalization of $12.56 billion, a P/E ratio of 50.12, a price-to-earnings-growth ratio of 3.09 and a beta of 1.71. RBC Bearings Incorporated has a 12 month low of $272.50 and a 12 month high of $416.33. The stock has a 50 day simple moving average of $390.63 and a 200 day simple moving average of $362.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33.

RBC Bearings (NYSE:RBC - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.10. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The business had revenue of $436.00 million during the quarter, compared to analysts' expectations of $432.63 million. During the same quarter last year, the business posted $2.54 EPS. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. RBC Bearings has set its Q2 2026 guidance at EPS. As a group, analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

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.