Swiss National Bank Has $18.60 Million Position in RBC Bearings Incorporated $RBC

Swiss National Bank grew its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,790 shares of the industrial products company's stock after purchasing an additional 3,200 shares during the period. Swiss National Bank owned approximately 0.18% of RBC Bearings worth $18,595,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Durable Capital Partners LP increased its position in shares of RBC Bearings by 1.9% in the fourth quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company's stock valued at $787,141,000 after acquiring an additional 48,287 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of RBC Bearings by 0.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,097,321 shares of the industrial products company's stock valued at $328,253,000 after acquiring an additional 2,884 shares during the last quarter. Geneva Capital Management LLC increased its position in shares of RBC Bearings by 1.0% during the 1st quarter. Geneva Capital Management LLC now owns 589,418 shares of the industrial products company's stock worth $189,657,000 after purchasing an additional 5,753 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of RBC Bearings by 32.6% during the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock worth $159,998,000 after purchasing an additional 131,614 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of RBC Bearings by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 358,438 shares of the industrial products company's stock worth $107,221,000 after purchasing an additional 6,667 shares during the last quarter.

RBC Bearings Stock Performance

NYSE RBC traded up $3.85 during trading on Monday, reaching $398.60. 49,227 shares of the company's stock were exchanged, compared to its average volume of 165,291. The business has a 50 day moving average price of $386.70 and a 200-day moving average price of $360.97. The stock has a market capitalization of $12.58 billion, a P/E ratio of 50.19, a PEG ratio of 3.06 and a beta of 1.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.33 and a quick ratio of 1.33. 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 quarterly earnings results on Friday, August 1st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $432.63 million. During the same quarter in the previous year, the business earned $2.54 earnings per share. The business's revenue was up 7.3% compared to the same quarter last year. Sell-side analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Insider Transactions at RBC Bearings

In other RBC Bearings news, Director Steven H. Kaplan sold 400 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $381.30, for a total value of $152,520.00. Following the transaction, the director directly owned 2,499 shares of the company's stock, valued at $952,868.70. This represents a 13.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Hartnett sold 26,725 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $381.09, for a total value of $10,184,630.25. Following the completion of the transaction, the chief executive officer directly owned 316,853 shares in the company, valued at approximately $120,749,509.77. This represents a 7.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,716 shares of company stock valued at $48,818,116. Corporate insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on RBC. Deutsche Bank Aktiengesellschaft began coverage on RBC Bearings in a research report on Wednesday, July 16th. They set a "buy" rating and a $480.00 price target on the stock. The Goldman Sachs Group boosted their price target on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Truist Financial boosted their price target on RBC Bearings from $431.00 to $455.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price target (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Finally, KeyCorp boosted their price target on RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.