Jefferies Financial Group Inc. Purchases 1,697 Shares of RBC Bearings Incorporated (NYSE:RBC)

Key Points

• Jefferies Financial Group Inc. significantly increased its stake in RBC Bearings by 212.4% during the first quarter, acquiring an additional 1,697 shares, bringing its total holdings to 2,496 shares valued at approximately $803,000.
• Multiple research analysts have raised their price targets for RBC Bearings, with Truist Financial setting a new target at $455.00 and Deutsche Bank initiating coverage with a $480.00 target, indicating a positive outlook for the stock.
• In the latest earnings report, RBC Bearings outperformed expectations with an earnings per share (EPS) of $2.84, exceeding analysts' estimates, and reported a revenue of $436 million, a 7.3% increase year-over-year.

Jefferies Financial Group Inc. raised its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 212.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,496 shares of the industrial products company's stock after purchasing an additional 1,697 shares during the period. Jefferies Financial Group Inc.'s holdings in RBC Bearings were worth $803,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RBC. Townsquare Capital LLC raised its position in shares of RBC Bearings by 0.6% during the 4th quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company's stock valued at $1,694,000 after buying an additional 36 shares in the last quarter. Rafferty Asset Management LLC raised its position in shares of RBC Bearings by 6.4% during the 4th quarter. Rafferty Asset Management LLC now owns 713 shares of the industrial products company's stock valued at $213,000 after buying an additional 43 shares in the last quarter. First Bank & Trust raised its position in shares of RBC Bearings by 2.1% during the 1st quarter. First Bank & Trust now owns 2,165 shares of the industrial products company's stock valued at $697,000 after buying an additional 44 shares in the last quarter. Deutsche Bank AG raised its position in shares of RBC Bearings by 2.9% during the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock valued at $529,000 after buying an additional 49 shares in the last quarter. Finally, Xponance Inc. raised its position in shares of RBC Bearings by 1.5% during the 1st quarter. Xponance Inc. now owns 3,491 shares of the industrial products company's stock valued at $1,123,000 after buying an additional 51 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. KeyCorp lifted their target price 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. Truist Financial lifted their target price on shares of RBC Bearings from $431.00 to $455.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of RBC Bearings in a research report on Wednesday, July 16th. They issued a "buy" rating and a $480.00 target price on the stock. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $425.17.

Insider Buying and Selling at RBC Bearings

In other news, Director Steven H. Kaplan sold 400 shares of the company's 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 transaction, the director owned 2,499 shares in the company, valued at approximately $952,868.70. This represents a 13.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael H. Ambrose sold 595 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $367.32, for a total transaction of $218,555.40. Following the completion of the transaction, the director owned 6,985 shares in the company, valued at approximately $2,565,730.20. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 125,716 shares of company stock worth $48,818,116 in the last ninety days. 1.90% of the stock is owned by company insiders.

RBC Bearings Trading Down 1.5%

Shares of NYSE:RBC traded down $6.12 during midday trading on Friday, hitting $398.54. 149,609 shares of the stock traded hands, compared to its average volume of 171,968. The stock has a market capitalization of $12.58 billion, a PE ratio of 50.19, a P/E/G ratio of 3.13 and a beta of 1.71. The business's 50 day moving average is $384.14 and its two-hundred day moving average is $357.40. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29. RBC Bearings Incorporated has a one year low of $272.50 and a one year high of $416.33.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.10. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. The company had revenue of $436.00 million for the quarter, compared to analysts' expectations of $432.63 million. During the same quarter in the previous year, the company earned $2.54 earnings per share. RBC Bearings's quarterly revenue was up 7.3% on a year-over-year basis. As a group, research analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

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.