Corebridge Financial Inc. Trims Holdings in RBC Bearings Incorporated $RBC

Key Points

• Corebridge Financial Inc. decreased its stake in RBC Bearings by 2.3%, now holding 34,520 shares worth approximately $11.1 million.
• Several large investors, including GAMMA Investing LLC and Ameriprise Financial Inc., significantly increased their positions, suggesting growing confidence in RBC Bearings.
• Analysts have issued varied ratings for RBC Bearings, with a consensus of a "Moderate Buy" and a price target of $425.17, reflecting positive sentiment in light of recent earnings that beat expectations.

Corebridge Financial Inc. decreased its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 2.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 34,520 shares of the industrial products company's stock after selling 805 shares during the period. Corebridge Financial Inc. owned 0.11% of RBC Bearings worth $11,108,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of RBC Bearings by 38,860.9% during the first quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company's stock valued at $64,813,000 after buying an additional 200,911 shares during the period. Ameriprise Financial Inc. grew its stake in RBC Bearings by 32.6% during the fourth quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock valued at $159,998,000 after acquiring an additional 131,614 shares in the last quarter. Nuveen LLC purchased a new position in RBC Bearings during the first quarter valued at approximately $20,847,000. Durable Capital Partners LP increased its holdings in RBC Bearings by 1.9% during the 4th quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company's stock worth $787,141,000 after acquiring an additional 48,287 shares during the period. Finally, Northern Trust Corp lifted its stake in RBC Bearings by 18.2% in the 4th quarter. Northern Trust Corp now owns 276,340 shares of the industrial products company's stock worth $82,664,000 after purchasing an additional 42,459 shares in the last quarter.

Analyst Upgrades and Downgrades

RBC has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of RBC Bearings in a research report on Wednesday, July 16th. They set a "buy" rating and a $480.00 price target for the company. Zacks Research upgraded RBC Bearings from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. The Goldman Sachs Group upped their target price on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Morgan Stanley reiterated an "overweight" rating and set a $415.00 price target (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Finally, KeyCorp upped their price objective on shares of RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $425.17.

RBC Bearings Trading Up 0.0%

Shares of RBC stock opened at $399.73 on Wednesday. The business has a 50-day moving average price of $390.06 and a two-hundred day moving average price of $362.63. RBC Bearings Incorporated has a 12-month low of $272.50 and a 12-month 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 market cap of $12.62 billion, a P/E ratio of 50.34, a price-to-earnings-growth ratio of 3.09 and a beta of 1.71.

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

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, Director Michael H. Ambrose sold 595 shares of the business's 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 $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 available at the SEC website. Also, COO Daniel A. Bergeron sold 48,743 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $402.75, for a total transaction of $19,631,243.25. Following the sale, the chief operating officer owned 111,134 shares of the company's stock, valued at approximately $44,759,218.50. The trade was a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,716 shares of company stock valued at $48,818,116. 1.90% of the stock is owned by insiders.

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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