Raymond James Financial Inc. Sells 11,438 Shares of RBC Bearings Incorporated $RBC

Key Points

• Raymond James Financial Inc. reduced its holdings in RBC Bearings by 4.8%, selling 11,438 shares during the 1st quarter, bringing their total ownership to approximately 226,992 shares valued at $73,039,000.
• Insider transactions included the CEO selling 9,000 shares for about $3.34 million, resulting in a 2.89% decrease in ownership, while a director sold 595 shares, leading to a 7.85% decrease in their stake.
• Several brokerages have assigned a Moderate Buy rating to RBC Bearings, with target prices ranging from $416.00 to $480.00, reflecting positive outlooks from analysts following recent performance and earnings results.

Raymond James Financial Inc. cut its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,992 shares of the industrial products company's stock after selling 11,438 shares during the period. Raymond James Financial Inc. owned approximately 0.72% of RBC Bearings worth $73,039,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RBC. GAMMA Investing LLC boosted its holdings in RBC Bearings by 38,860.9% in the 1st quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company's stock valued at $64,813,000 after purchasing an additional 200,911 shares during the period. Ameriprise Financial Inc. boosted its holdings in RBC Bearings by 32.6% in the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock valued at $159,998,000 after purchasing an additional 131,614 shares during the period. Nuveen LLC bought a new stake in RBC Bearings in the 1st quarter valued at $20,847,000. Durable Capital Partners LP boosted its holdings in RBC Bearings by 1.9% in the 4th quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company's stock valued at $787,141,000 after purchasing an additional 48,287 shares during the period. Finally, Northern Trust Corp boosted its holdings in RBC Bearings by 18.2% in the 4th quarter. Northern Trust Corp now owns 276,340 shares of the industrial products company's stock valued at $82,664,000 after purchasing an additional 42,459 shares during the period.

Analysts Set New Price Targets

A number of analysts have weighed in on RBC shares. KeyCorp increased their price target on shares of RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. 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, July 8th. Morgan Stanley restated an "overweight" rating and issued a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of RBC Bearings in a research note on Wednesday, July 16th. They issued a "buy" rating and a $480.00 price objective for the company. Finally, Truist Financial increased 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 equities research 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's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $425.17.

RBC Bearings Price Performance

Shares of RBC Bearings stock traded down $2.0590 during mid-day trading on Monday, reaching $399.5010. 156,497 shares of the stock were exchanged, compared to its average volume of 177,882. The company has a market cap of $12.61 billion, a price-to-earnings ratio of 50.31, a price-to-earnings-growth ratio of 3.11 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 firm has a 50-day simple moving average of $389.40 and a 200 day simple moving average of $362.37. RBC Bearings Incorporated has a fifty-two week low of $272.50 and a fifty-two week high of $416.33.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its 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 analysts' expectations 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 for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $2.54 EPS. RBC Bearings has set its Q2 2026 guidance at EPS. On average, sell-side analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Insider Activity

In other RBC Bearings news, Director Steven H. Kaplan sold 400 shares of the firm'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 sale, the director owned 2,499 shares in the company, valued at approximately $952,868.70. This trade represents a 13.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael H. Ambrose sold 595 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $367.32, for a total transaction of $218,555.40. Following the completion of the sale, the director owned 6,985 shares of the company's stock, valued at $2,565,730.20. The trade was a 7.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,716 shares of company stock worth $48,818,116. Company insiders own 1.90% of the company's stock.

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.