Diversified Trust Co Has $697,000 Position in RBC Bearings Incorporated (NYSE:RBC)

Diversified Trust Co reduced its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 24.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in RBC Bearings in the 4th quarter valued at about $88,184,000. Raymond James Financial Inc. purchased a new stake in shares of RBC Bearings in the 4th quarter valued at $71,324,000. Vanguard Group Inc. boosted its stake in shares of RBC Bearings by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock valued at $879,149,000 after purchasing an additional 229,466 shares during the period. GAMMA Investing LLC lifted its holdings in 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 buying an additional 200,911 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in RBC Bearings by 32.6% during 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 in the last quarter.

RBC Bearings Stock Performance

RBC traded up $5.46 on Thursday, hitting $388.59. 98,635 shares of the company's stock were exchanged, compared to its average volume of 160,667. The stock has a fifty day moving average of $364.42 and a two-hundred day moving average of $341.66. The firm has a market cap of $12.21 billion, a PE ratio of 50.66, a P/E/G ratio of 3.89 and a beta of 1.65. The company has a current ratio of 3.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.30. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month high of $393.51.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.13. The business 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 company's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.47 earnings per share. On average, research analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity

In other RBC Bearings news, CEO Michael J. Hartnett sold 9,000 shares of RBC Bearings stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $371.37, for a total transaction of $3,342,330.00. Following the transaction, the chief executive officer directly owned 302,853 shares in the company, valued at approximately $112,470,518.61. The trade was a 2.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven H. Kaplan sold 400 shares of the stock in a transaction 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 completion of the sale, the director owned 2,499 shares of the company's stock, valued at $952,868.70. The trade was a 13.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,973 shares of company stock worth $29,186,872 in the last quarter. Insiders own 2.60% of the company's stock.

About RBC Bearings

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.