Personal CFO Solutions LLC Takes Position in RBC Bearings Incorporated (NYSE:RBC)

Personal CFO Solutions LLC purchased a new position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 921 shares of the industrial products company's stock, valued at approximately $296,000.

Several other hedge funds also recently modified their holdings of RBC. Townsquare Capital LLC raised its holdings in RBC Bearings by 0.6% in the 4th quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company's stock valued at $1,694,000 after acquiring an additional 36 shares in the last quarter. Rafferty Asset Management LLC increased its position in shares of RBC Bearings by 6.4% during the fourth quarter. Rafferty Asset Management LLC now owns 713 shares of the industrial products company's stock valued at $213,000 after purchasing an additional 43 shares during the period. First Bank & Trust raised its stake in shares of RBC Bearings by 2.1% in the first quarter. First Bank & Trust now owns 2,165 shares of the industrial products company's stock valued at $697,000 after purchasing an additional 44 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of RBC Bearings by 6.6% in the fourth 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 in the last quarter. Finally, Deutsche Bank AG lifted its position in RBC Bearings by 2.9% in the fourth quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock worth $529,000 after purchasing an additional 49 shares during the period.

RBC Bearings Price Performance

Shares of RBC traded down $0.94 during trading hours on Friday, hitting $377.97. The stock had a trading volume of 145,803 shares, compared to its average volume of 160,723. The stock has a market capitalization of $11.87 billion, a price-to-earnings ratio of 49.28, a P/E/G ratio of 3.87 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.26 and a quick ratio of 1.18. The company's fifty day moving average is $371.71 and its two-hundred day moving average is $345.10. RBC Bearings Incorporated has a 52 week low of $260.53 and a 52 week high of $393.51.

RBC Bearings (NYSE:RBC - Get Free Report) last released its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.13. The firm had revenue of $437.70 million for the quarter, compared to analyst estimates of $440.26 million. RBC Bearings had a net margin of 15.05% and a return on equity of 10.08%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.47 earnings per share. On average, analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RBC shares. The Goldman Sachs Group increased their price objective on shares of RBC Bearings from $375.00 to $416.00 and gave the company a "neutral" rating in a research note on Tuesday. 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 research note on Tuesday, May 20th. Finally, Truist Financial raised 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $398.40.

Insiders Place Their Bets

In other news, Director Michael H. Ambrose sold 595 shares of the firm's stock in a transaction 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 completion of the sale, the director directly owned 6,985 shares in the company, valued at approximately $2,565,730.20. This trade represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven H. Kaplan sold 400 shares of RBC Bearings 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 directly owned 2,499 shares of the company's stock, valued at $952,868.70. This represents a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,973 shares of company stock worth $29,186,872. 2.60% 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.