Synovus Financial Corp Has $11.27 Million Position in RBC Bearings Incorporated $RBC

Key Points

• Synovus Financial Corp increased its holdings in RBC Bearings by 127.7%, acquiring an additional 19,638 shares, bringing its ownership to 35,022 shares worth $11.27 million.
• Insider selling included COO Daniel A. Bergeron who sold 48,743 shares valued at over $19.6 million, reflecting a 30.49% decrease in his position.
• Analysts have upgraded RBC Bearings, with Zacks Research raising its rating to "strong-buy" and price targets increasing across various firms, reflecting positive growth expectations.

Synovus Financial Corp increased its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 127.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,022 shares of the industrial products company's stock after purchasing an additional 19,638 shares during the period. Synovus Financial Corp owned approximately 0.11% of RBC Bearings worth $11,270,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in RBC Bearings during the 1st quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. lifted 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 purchasing an additional 59 shares during the last quarter. Golden State Wealth Management LLC lifted 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 purchasing an additional 136 shares during the last quarter. UMB Bank n.a. lifted 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 purchasing an additional 139 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in RBC Bearings during the 1st quarter worth approximately $111,000.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RBC. The Goldman Sachs Group lifted their price target on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. KeyCorp raised their price objective on RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Morgan Stanley restated an "overweight" rating and set a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft began coverage on RBC Bearings in a research note on Wednesday, July 16th. They set a "buy" rating and a $480.00 price objective on the stock. Finally, Zacks Research upgraded RBC Bearings from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. One 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. According to MarketBeat.com, RBC Bearings has a consensus rating of "Moderate Buy" and a consensus price target of $425.17.

Insider Transactions at RBC Bearings

In related news, COO Daniel A. Bergeron sold 48,743 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $402.75, for a total transaction of $19,631,243.25. Following the sale, the chief operating officer owned 111,134 shares in the company, valued at $44,759,218.50. The trade was a 30.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven H. Kaplan sold 400 shares of the business'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 sale, the director owned 2,499 shares in the company, valued at $952,868.70. This represents a 13.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,716 shares of company stock worth $48,818,116. 1.90% of the stock is currently owned by insiders.

RBC Bearings Price Performance

Shares of RBC traded down $8.09 during midday trading on Friday, hitting $390.62. The company's stock had a trading volume of 54,081 shares, compared to its average volume of 166,425. RBC Bearings Incorporated has a one year low of $272.50 and a one year high of $416.33. The company's fifty day simple moving average is $391.15 and its two-hundred day simple moving average is $363.13. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $12.33 billion, a price-to-earnings ratio of 49.24, a price-to-earnings-growth ratio of 3.09 and a beta of 1.71.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $436.00 million for the quarter, compared to analyst estimates of $432.63 million. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.RBC Bearings's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 EPS. RBC Bearings has set its Q2 2026 guidance at EPS. As a group, equities analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

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.