Citigroup Inc. Buys 1,061 Shares of RBC Bearings Incorporated $RBC

Key Points

• Citigroup Inc. has increased its stake in RBC Bearings Incorporated by 3.7%, owning 29,722 shares valued at approximately $9.56 million as of the latest filing.
• RBC Bearings reported an earnings per share of $2.84 for the latest quarter, surpassing analysts' expectations by $0.10, with revenues reaching $436 million, a 7.3% increase year-over-year.
• Several analysts have recently raised their price targets for RBC Bearings, with Truist Financial setting a new target of $455, indicating a continued bullish sentiment on the stock.

Citigroup Inc. grew its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,722 shares of the industrial products company's stock after purchasing an additional 1,061 shares during the quarter. Citigroup Inc. owned about 0.09% of RBC Bearings worth $9,564,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in RBC Bearings during the 1st quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in RBC Bearings by 109.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company's stock worth $36,000 after purchasing an additional 59 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in RBC Bearings by 107.1% during the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company's stock worth $85,000 after purchasing an additional 136 shares during the last quarter. UMB Bank n.a. raised its holdings in RBC Bearings by 80.8% during the 1st quarter. UMB Bank n.a. now owns 311 shares of the industrial products company's stock worth $100,000 after purchasing an additional 139 shares during the last quarter. Finally, Quarry LP raised its holdings in RBC Bearings by 30.9% during the 4th quarter. Quarry LP now owns 390 shares of the industrial products company's stock worth $117,000 after purchasing an additional 92 shares during the last quarter.

RBC Bearings Stock Down 0.6%

NYSE RBC traded down $2.28 during mid-day trading on Thursday, hitting $390.48. The company's stock had a trading volume of 266,048 shares, compared to its average volume of 167,038. The company's 50 day simple moving average is $388.16 and its 200 day simple moving average is $361.95. RBC Bearings Incorporated has a twelve month low of $272.50 and a twelve month high of $416.33. 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 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 (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, 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 business had revenue of $436.00 million during the quarter, compared to the consensus estimate of $432.63 million. During the same quarter last year, the firm posted $2.54 EPS. RBC Bearings's revenue was up 7.3% compared to the same quarter last year. RBC Bearings has set its Q2 2026 guidance at EPS. Analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Insider Buying and Selling at RBC Bearings

In related news, COO Daniel A. Bergeron sold 48,743 shares of RBC Bearings stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $402.75, for a total value of $19,631,243.25. Following the completion of the sale, the chief operating officer owned 111,134 shares of the company's stock, valued at approximately $44,759,218.50. This trade represents a 30.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Hartnett sold 9,000 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $371.37, for a total value of $3,342,330.00. Following the transaction, the chief executive officer owned 302,853 shares in the company, valued at approximately $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. In the last quarter, insiders sold 125,716 shares of company stock worth $48,818,116. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Zacks Research raised shares of RBC Bearings from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. KeyCorp raised their price objective 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. The Goldman Sachs Group raised their price objective 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. Finally, Truist Financial raised their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, RBC Bearings has a consensus rating of "Moderate Buy" and an average price target of $425.17.

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.