Invesco Ltd. Acquires 26,338 Shares of RBC Bearings Incorporated $RBC

Key Points

• Invesco Ltd. has increased its stake in RBC Bearings by 11.2%, acquiring an additional 26,338 shares and now holds approximately 0.83% of the company, valued at $83.96 million.
• Several hedge funds have significantly boosted their positions in RBC Bearings, with GAMMA Investing LLC increasing its ownership by an astounding 38,860.9%.
• Analysts have positive forecasts for RBC Bearings, with multiple firms raising their price targets, leading to a consensus rating of "Moderate Buy" and an average target price of $425.17.

Invesco Ltd. boosted its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 11.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 260,924 shares of the industrial products company's stock after buying an additional 26,338 shares during the period. Invesco Ltd. owned 0.83% of RBC Bearings worth $83,958,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RBC. Rafferty Asset Management LLC lifted its holdings 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 valued at $213,000 after acquiring an additional 43 shares during the last quarter. First Bank & Trust lifted its holdings in RBC Bearings by 2.1% in the 1st quarter. First Bank & Trust now owns 2,165 shares of the industrial products company's stock valued at $697,000 after acquiring an additional 44 shares during the last quarter. Deutsche Bank AG lifted its holdings in RBC Bearings by 2.9% in the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock valued at $529,000 after acquiring an additional 49 shares during the last quarter. Xponance Inc. lifted its holdings in RBC Bearings by 1.5% in the 1st quarter. Xponance Inc. now owns 3,491 shares of the industrial products company's stock valued at $1,123,000 after acquiring an additional 51 shares during the last quarter. Finally, Vista Finance LLC lifted its holdings in RBC Bearings by 6.9% in the 1st quarter. Vista Finance LLC now owns 879 shares of the industrial products company's stock valued at $283,000 after acquiring an additional 57 shares during the last quarter.

Analysts Set New Price Targets

RBC has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price target on shares of RBC Bearings from $375.00 to $416.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of RBC Bearings in a report on Wednesday, July 16th. They issued a "buy" rating and a $480.00 price target for the company. Zacks Research raised shares of RBC Bearings from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. KeyCorp upped their price objective on shares of RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Truist Financial upped their price objective on shares of RBC Bearings from $431.00 to $455.00 and gave the company a "buy" rating in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $425.17.

RBC Bearings Stock Down 0.6%

Shares of NYSE RBC traded down $2.28 during mid-day trading on Thursday, reaching $390.48. The company had a trading volume of 266,048 shares, compared to its average volume of 167,038. The stock has a fifty day moving average of $388.16 and a two-hundred day moving average of $361.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33. The company has a market capitalization of $12.32 billion, a price-to-earnings ratio of 49.18, a PEG ratio of 3.04 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.

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

Insider Activity at RBC Bearings

In other news, Director Michael H. Ambrose sold 595 shares of the stock in a transaction that occurred 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. This represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Hartnett sold 9,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $371.37, for a total transaction of $3,342,330.00. Following the completion of the sale, the chief executive officer directly owned 302,853 shares of the company's stock, valued at $112,470,518.61. This trade represents a 2.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,716 shares of company stock valued at $48,818,116 over the last ninety days. 1.90% of the stock is owned by company insiders.

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.