Royce & Associates LP Sells 13,624 Shares of RBC Bearings Incorporated (NYSE:RBC)

Royce & Associates LP trimmed its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 9.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,173 shares of the industrial products company's stock after selling 13,624 shares during the quarter. Royce & Associates LP owned 0.40% of RBC Bearings worth $40,599,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in RBC Bearings during the 1st quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. grew 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 acquiring an additional 59 shares during the last quarter. Golden State Wealth Management LLC grew 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 acquiring an additional 136 shares during the last quarter. UMB Bank n.a. grew 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 acquiring an additional 139 shares during the last quarter. Finally, Quarry LP grew 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 acquiring an additional 92 shares during the last quarter.

Insider Activity at RBC Bearings

In related news, COO Daniel A. Bergeron sold 31,282 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the transaction, the chief operating officer directly owned 111,134 shares of the company's stock, valued at $42,262,037.52. This represents a 21.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael H. Ambrose sold 595 shares of the firm's stock in a transaction on 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 transaction, the director directly owned 6,985 shares in the company, valued at $2,565,730.20. This trade represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,973 shares of company stock valued at $29,186,872 in the last ninety days. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

RBC has been the topic of a number of analyst reports. The Goldman Sachs Group upped 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 reaffirmed an "overweight" rating and issued a $415.00 price objective (up from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Truist Financial upped their price objective on shares of RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. KeyCorp upped their price objective on shares of RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft initiated 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 on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $421.17.

RBC Bearings Stock Up 0.9%

NYSE RBC traded up $3.56 on Friday, hitting $388.58. 77,151 shares of the company were exchanged, compared to its average volume of 172,243. The company has a market cap of $12.20 billion, a PE ratio of 50.66, a PEG ratio of 3.14 and a beta of 1.65. RBC Bearings Incorporated has a 12 month low of $260.53 and a 12 month high of $402.22. The stock has a fifty day moving average of $378.23 and a 200-day moving average of $351.20. The company has a current ratio of 3.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.30.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.13. The business 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%. RBC Bearings's revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.47 earnings per share. As a group, analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share 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.