RBC Bearings Incorporated $RBC Shares Sold by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG cut its RBC Bearings stake by 46.5% in the second quarter, selling 2,258 shares and retaining 2,596 shares valued at approximately $1.67 million.
• Other major institutions increased their positions, while analysts maintained a generally positive outlook: seven rate RBC Bearings a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating and a $623 target price.
• RBC Bearings’ latest quarterly results exceeded expectations, with adjusted EPS of $3.88 versus $3.42 expected and revenue of $519.5 million, up 19.2% year over year; shares opened at $487.71, below their 50-day and 200-day moving averages.

B. Metzler seel. Sohn & Co. AG reduced its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 46.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,596 shares of the industrial products company's stock after selling 2,258 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in RBC Bearings were worth $1,672,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp raised its holdings in RBC Bearings by 0.5% during the third quarter. State Street Corp now owns 919,259 shares of the industrial products company's stock worth $358,778,000 after purchasing an additional 4,568 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of RBC Bearings by 8.5% during the 4th quarter. Geode Capital Management LLC now owns 619,314 shares of the industrial products company's stock valued at $277,776,000 after acquiring an additional 48,419 shares during the last quarter. Maren Capital LLC lifted its position in shares of RBC Bearings by 1.4% during the 4th quarter. Maren Capital LLC now owns 450,314 shares of the industrial products company's stock valued at $201,934,000 after acquiring an additional 6,373 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of RBC Bearings by 27.5% during the 1st quarter. First Trust Advisors LP now owns 409,700 shares of the industrial products company's stock worth $222,516,000 after acquiring an additional 88,468 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of RBC Bearings by 6.2% in the 4th quarter. Invesco Ltd. now owns 404,777 shares of the industrial products company's stock worth $181,514,000 after acquiring an additional 23,616 shares during the last quarter.

Wall Street Analyst Weigh In

RBC has been the subject of several analyst reports. Morgan Stanley upped their target price on RBC Bearings from $600.00 to $640.00 and gave the company an "overweight" rating in a report on Tuesday, May 19th. Weiss Ratings lowered shares of RBC Bearings from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 27th. Royal Bank Of Canada set a $645.00 price objective on shares of RBC Bearings in a research report on Monday, August 3rd. Raymond James Financial raised shares of RBC Bearings from a "market perform" rating to an "outperform" rating and set a $645.00 target price on the stock in a research note on Monday, August 3rd. Finally, Zacks Research lowered RBC Bearings from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 3rd. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $623.00.

Insiders Place Their Bets

In other RBC Bearings news, VP John Feeney sold 225 shares of the business's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $657.94, for a total value of $148,036.50. Following the completion of the transaction, the vice president directly owned 2,378 shares of the company's stock, valued at approximately $1,564,581.32. The trade was a 8.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dolores Ennico sold 600 shares of the company's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total value of $381,666.00. Following the transaction, the director directly owned 7,254 shares in the company, valued at $4,614,341.94. This trade represents a 7.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.80% of the stock is currently owned by insiders.

RBC Bearings Trading Down 0.6%

Shares of NYSE:RBC opened at $487.71 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.98 and a current ratio of 2.53. The stock's 50-day moving average is $560.06 and its 200-day moving average is $573.01. The company has a market cap of $15.44 billion, a P/E ratio of 48.19, a P/E/G ratio of 2.62 and a beta of 1.39. RBC Bearings Incorporated has a 52-week low of $364.50 and a 52-week high of $667.69.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The industrial products company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.42 by $0.46. The company had revenue of $519.50 million for the quarter, compared to the consensus estimate of $508.92 million. RBC Bearings had a net margin of 16.40% and a return on equity of 12.06%. The business's revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.84 EPS. Equities research analysts predict that RBC Bearings Incorporated will post 14.12 earnings per share for the current year.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company's product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company's bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.

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