Northern Trust Corp Lowers Holdings in RBC Bearings Incorporated $RBC

Key Points

• Northern Trust Corp reduced its stake in RBC Bearings by 0.7%, owning 274,348 shares valued at approximately $88.28 million as of the latest quarter.
• RBC Bearings reported $2.84 earnings per share for the last quarter, surpassing estimates and showing a 7.3% year-over-year revenue increase.
• Key analysts have raised price targets for RBC Bearings, with KeyCorp setting a new target of $450.00 and Deutsche Bank establishing a target of $480.00.

Northern Trust Corp lowered its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 274,348 shares of the industrial products company's stock after selling 1,992 shares during the quarter. Northern Trust Corp owned approximately 0.87% of RBC Bearings worth $88,277,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Avenue Securities LLC lifted its stake in shares of RBC Bearings by 50.8% in the 1st quarter. Park Avenue Securities LLC now owns 2,647 shares of the industrial products company's stock valued at $852,000 after purchasing an additional 892 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of RBC Bearings in the 1st quarter valued at approximately $253,000. Deutsche Bank AG lifted its stake in shares of 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 purchasing an additional 49 shares during the period. New York State Teachers Retirement System lifted its stake in shares of RBC Bearings by 21.3% in the 1st quarter. New York State Teachers Retirement System now owns 5,700 shares of the industrial products company's stock valued at $1,834,000 after purchasing an additional 1,000 shares during the period. Finally, Personal CFO Solutions LLC purchased a new position in shares of RBC Bearings in the 1st quarter valued at approximately $296,000.

Insider Buying and Selling

In other news, CEO Michael J. Hartnett sold 26,725 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $381.09, for a total value of $10,184,630.25. Following the transaction, the chief executive officer directly owned 316,853 shares in the company, valued at $120,749,509.77. The trade was a 7.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven H. Kaplan sold 400 shares of the business's stock in a transaction dated 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 transaction, the director owned 2,499 shares in the company, valued at $952,868.70. The trade was a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 125,716 shares of company stock valued at $48,818,116 over the last three months. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. The Goldman Sachs Group raised their target price on RBC Bearings from $375.00 to $416.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft began coverage on RBC Bearings in a report on Wednesday, July 16th. They issued a "buy" rating and a $480.00 target price for the company. Zacks Research raised RBC Bearings from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Morgan Stanley reissued an "overweight" rating and issued a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Finally, KeyCorp lifted their target price on RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $425.17.

RBC Bearings Stock Performance

NYSE RBC traded down $11.08 on Friday, hitting $387.63. 87,479 shares of the company traded hands, compared to its average volume of 166,662. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 48.96, a P/E/G ratio of 3.09 and a beta of 1.71. The company has a current ratio of 3.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.29. The business's 50 day moving average price is $391.15 and its 200-day moving average price is $363.13. RBC Bearings Incorporated has a 52-week low of $272.50 and a 52-week high of $416.33.

RBC Bearings (NYSE:RBC - Get Free Report) last released its earnings results on Friday, August 1st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.10. The company had revenue of $436.00 million for the quarter, compared to the consensus estimate of $432.63 million. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.RBC Bearings's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.54 earnings per share. RBC Bearings has set its Q2 2026 guidance at EPS. Equities 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.