Diversified Trust Co Trims Position in RBC Bearings Incorporated (NYSE:RBC)

Diversified Trust Co decreased its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 24.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,167 shares of the industrial products company's stock after selling 696 shares during the period. Diversified Trust Co's holdings in RBC Bearings were worth $697,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Torray Investment Partners LLC grew its holdings in RBC Bearings by 0.3% during the 4th quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company's stock valued at $2,533,000 after buying an additional 28 shares in the last quarter. Townsquare Capital LLC increased its holdings 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 acquiring an additional 36 shares during the period. Rafferty Asset Management LLC lifted its stake in RBC Bearings by 6.4% in the 4th quarter. Rafferty Asset Management LLC now owns 713 shares of the industrial products company's stock worth $213,000 after purchasing an additional 43 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in RBC Bearings by 6.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 762 shares of the industrial products company's stock valued at $228,000 after purchasing an additional 47 shares during the period. Finally, Norden Group LLC grew its position in shares of RBC Bearings by 6.7% during the 4th quarter. Norden Group LLC now owns 780 shares of the industrial products company's stock valued at $233,000 after purchasing an additional 49 shares in the last quarter.

Insider Buying and Selling

In other RBC Bearings news, Director Michael H. Ambrose sold 595 shares of RBC Bearings stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $367.32, for a total value of $218,555.40. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $152,520.00. Following the sale, the director directly owned 2,499 shares of the company's stock, valued at approximately $952,868.70. This trade represents a 13.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,973 shares of company stock valued at $29,186,872. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

RBC has been the subject of several research analyst reports. Truist Financial lifted their price objective on RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Morgan Stanley reissued an "overweight" rating and set a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, RBC Bearings currently has a consensus rating of "Moderate Buy" and an average price target of $394.00.

RBC Bearings Price Performance

RBC traded up $3.57 during midday trading on Monday, hitting $384.93. The stock had a trading volume of 197,789 shares, compared to its average volume of 160,569. RBC Bearings Incorporated has a 1 year low of $260.53 and a 1 year high of $400.09. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.18 and a current ratio of 3.26. The business has a fifty day moving average of $360.61 and a 200 day moving average of $340.69. The company has a market cap of $12.09 billion, a P/E ratio of 50.19, a price-to-earnings-growth ratio of 3.89 and a beta of 1.66.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, topping analysts' consensus estimates of $2.70 by $0.13. RBC Bearings had a net margin of 15.05% and a return on equity of 10.08%. The company had revenue of $437.70 million for the quarter, compared to analysts' expectations of $440.26 million. During the same quarter last year, the company earned $2.47 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal 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.