Royal Bank of Canada Decreases Position in RBC Bearings Incorporated $RBC

Royal Bank of Canada trimmed its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 59.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,168 shares of the industrial products company's stock after selling 104,622 shares during the period. Royal Bank of Canada owned approximately 0.22% of RBC Bearings worth $22,578,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of RBC Bearings by 38,860.9% during the first 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 last quarter. Nuveen LLC bought a new position in shares of RBC Bearings in the 1st quarter valued at about $20,847,000. Driehaus Capital Management LLC bought a new stake in shares of RBC Bearings during the 1st quarter worth about $11,414,000. Invesco Ltd. boosted its holdings in RBC Bearings by 11.2% in the 1st quarter. Invesco Ltd. now owns 260,924 shares of the industrial products company's stock valued at $83,958,000 after purchasing an additional 26,338 shares during the period. Finally, Blair William & Co. IL lifted its holdings in shares of RBC Bearings by 13.4% during the 1st quarter. Blair William & Co. IL now owns 210,485 shares of the industrial products company's stock worth $67,728,000 after acquiring an additional 24,885 shares during the period.

Analyst Upgrades and Downgrades

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

Insider Activity at RBC Bearings

In other RBC Bearings news, COO Daniel A. Bergeron sold 48,743 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $402.75, for a total value of $19,631,243.25. Following the sale, the chief operating officer owned 111,134 shares of the company's stock, valued at $44,759,218.50. This trade represents a 30.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael H. Ambrose sold 595 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 6,985 shares in the company, valued at $2,565,730.20. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

RBC Bearings Price Performance

RBC traded down $9.74 during trading on Friday, reaching $375.35. 133,571 shares of the company traded hands, compared to its average volume of 164,881. The firm has a fifty day simple moving average of $391.19 and a 200 day simple moving average of $364.71. RBC Bearings Incorporated has a 12-month low of $272.50 and a 12-month high of $416.33. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33. The company has a market cap of $11.85 billion, a P/E ratio of 47.27, a PEG ratio of 2.98 and a beta of 1.73.

RBC Bearings (NYSE:RBC - Get Free Report) last released its quarterly earnings data 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. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The firm had revenue of $436.00 million during the quarter, compared to the consensus estimate of $432.63 million. During the same period in the previous year, the company posted $2.54 earnings per share. The firm's quarterly revenue was up 7.3% on a year-over-year basis. RBC Bearings has set its Q2 2026 guidance at EPS. On average, equities analysts forecast that RBC Bearings Incorporated will post 9.16 EPS for the current year.

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.