Swiss National Bank Increases Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Swiss National Bank boosted its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,790 shares of the industrial products company's stock after acquiring an additional 3,200 shares during the quarter. Swiss National Bank owned 0.18% of RBC Bearings worth $18,595,000 at the end of the most recent quarter.

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

Insider Activity at RBC Bearings

In other RBC Bearings news, COO Daniel A. Bergeron sold 48,743 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 111,134 shares in the company, valued at approximately $44,759,218.50. This trade represents a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael H. Ambrose sold 595 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $367.32, for a total transaction of $218,555.40. Following the completion of the transaction, the director owned 6,985 shares in the company, valued at $2,565,730.20. The trade was a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 125,716 shares of company stock worth $48,818,116. Company insiders own 1.90% of the company's stock.

RBC Bearings Trading Down 1.6%

NYSE RBC traded down $6.60 during trading on Friday, hitting $395.32. 141,298 shares of the company's stock traded hands, compared to its average volume of 163,398. The stock has a fifty day moving average of $386.70 and a two-hundred day moving average of $360.36. 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 12-month low of $272.50 and a 12-month high of $416.33. The firm has a market cap of $12.48 billion, a P/E ratio of 49.79, a PEG ratio of 3.11 and a beta of 1.71.

RBC Bearings (NYSE:RBC - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.74 by $0.10. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. The company had revenue of $436.00 million during the quarter, compared to the consensus estimate of $432.63 million. During the same period in the prior year, the firm earned $2.54 earnings per share. RBC Bearings's revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RBC shares. KeyCorp raised their price target on shares of RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Truist Financial lifted their target price 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. The Goldman Sachs Group lifted their target price 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. Morgan Stanley reissued an "overweight" rating and set a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft started 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 on the stock. Two investment 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 an average 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.