Davis R M Inc. Decreases Holdings in RBC Bearings Incorporated (NYSE:RBC)

Davis R M Inc. lowered its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,213 shares of the industrial products company's stock after selling 672 shares during the period. Davis R M Inc. owned about 0.14% of RBC Bearings worth $13,905,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in RBC Bearings during the fourth quarter worth about $88,184,000. GAMMA Investing LLC boosted its stake in shares of RBC Bearings by 38,860.9% during the 1st quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company's stock worth $64,813,000 after acquiring an additional 200,911 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of RBC Bearings by 32.6% in the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock worth $159,998,000 after acquiring an additional 131,614 shares during the period. First Trust Advisors LP increased its stake in RBC Bearings by 63.5% in the 4th quarter. First Trust Advisors LP now owns 315,661 shares of the industrial products company's stock valued at $94,427,000 after purchasing an additional 122,552 shares in the last quarter. Finally, DF Dent & Co. Inc. purchased a new position in RBC Bearings in the 4th quarter valued at approximately $23,962,000.

Analyst Ratings Changes

Several research firms have weighed in on RBC. The Goldman Sachs Group upped their target price on RBC Bearings from $375.00 to $416.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. KeyCorp upped their price target on shares of RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Truist Financial increased their price target on shares of RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Morgan Stanley restated an "overweight" rating and set a $415.00 price objective (up from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on RBC Bearings in a report on Wednesday, July 16th. They set a "buy" rating and a $480.00 target price on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, RBC Bearings presently has an average rating of "Moderate Buy" and a consensus price target of $421.17.

Insider Activity at RBC Bearings

In other RBC Bearings news, Director Steven H. Kaplan sold 400 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $381.30, for a total transaction of $152,520.00. Following the transaction, the director owned 2,499 shares of the company's stock, valued at $952,868.70. This trade represents a 13.80% 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, COO Daniel A. Bergeron sold 31,282 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the sale, the chief operating officer directly owned 111,134 shares of the company's stock, valued at $42,262,037.52. This represents a 21.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,973 shares of company stock valued at $29,186,872 over the last three months. Insiders own 1.90% of the company's stock.

RBC Bearings Trading Up 2.9%

RBC traded up $11.37 during trading on Friday, hitting $398.71. The company's stock had a trading volume of 265,532 shares, compared to its average volume of 165,954. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month high of $405.18. The stock has a market cap of $12.58 billion, a PE ratio of 51.98, a PEG ratio of 3.16 and a beta of 1.65. The firm's 50 day moving average price is $379.56 and its 200-day moving average price is $353.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.26 and a quick ratio of 1.18.

RBC Bearings (NYSE:RBC - Get Free Report) last released its earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.70 by $0.13. The firm had revenue of $437.70 million during the quarter, compared to analyst estimates of $440.26 million. RBC Bearings had a return on equity of 10.08% and a net margin of 15.05%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.47 earnings per share. On average, analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current 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.