Free Trial

Synovus Financial Corp Acquires 19,638 Shares of RBC Bearings Incorporated $RBC

RBC Bearings logo with Industrials background

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.
  • Want stock alerts on RBC Bearings? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Synovus Financial Corp grew its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 127.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,022 shares of the industrial products company's stock after acquiring an additional 19,638 shares during the period. Synovus Financial Corp owned 0.11% of RBC Bearings worth $11,270,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Rafferty Asset Management LLC boosted its holdings in shares of RBC Bearings by 6.4% during the 4th quarter. Rafferty Asset Management LLC now owns 713 shares of the industrial products company's stock worth $213,000 after buying an additional 43 shares during the period. First Bank & Trust boosted its holdings in shares of RBC Bearings by 2.1% during the 1st quarter. First Bank & Trust now owns 2,165 shares of the industrial products company's stock worth $697,000 after buying an additional 44 shares during the period. Deutsche Bank AG boosted its holdings in shares of RBC Bearings by 2.9% during the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock worth $529,000 after buying an additional 49 shares during the period. Xponance Inc. boosted its holdings in shares of RBC Bearings by 1.5% during the 1st quarter. Xponance Inc. now owns 3,491 shares of the industrial products company's stock worth $1,123,000 after buying an additional 51 shares during the period. Finally, Vista Finance LLC boosted its holdings in shares of RBC Bearings by 6.9% during the 1st quarter. Vista Finance LLC now owns 879 shares of the industrial products company's stock worth $283,000 after buying an additional 57 shares during the period.

Insider Buying and Selling at RBC Bearings

In other news, COO Daniel A. Bergeron sold 48,743 shares of the stock in a transaction 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 completion of the transaction, the chief operating officer owned 111,134 shares in the company, valued at approximately $44,759,218.50. This represents a 30.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven H. Kaplan sold 400 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $381.30, for a total transaction of $152,520.00. Following the completion of the transaction, the director owned 2,499 shares of the company's stock, valued at approximately $952,868.70. This represents a 13.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,716 shares of company stock worth $48,818,116. Corporate insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RBC shares. Zacks Research raised shares of RBC Bearings from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Truist Financial upped their price objective on shares of RBC Bearings from $431.00 to $455.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price objective (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of RBC Bearings in a research note on Wednesday, July 16th. They set a "buy" rating and a $480.00 target price for the company. Finally, The Goldman Sachs Group upped their target price 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $425.17.

Check Out Our Latest Analysis on RBC Bearings

RBC Bearings Price Performance

NYSE:RBC opened at $401.5590 on Friday. The stock has a market cap of $12.67 billion, a P/E ratio of 50.57, a PEG ratio of 3.11 and a beta of 1.71. RBC Bearings Incorporated has a one year low of $272.50 and a one year high of $416.33. The company has a fifty day moving average price of $388.80 and a 200 day moving average price of $362.13. 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 (NYSE:RBC - Get Free Report) last released its earnings results on Friday, August 1st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.74 by $0.10. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. The firm had revenue of $436.00 million during the quarter, compared to analysts' expectations of $432.63 million. During the same period in the prior year, the company earned $2.54 EPS. The business's quarterly revenue was up 7.3% compared to the same quarter last year. RBC Bearings has set its Q2 2026 guidance at EPS. Analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

RBC Bearings Company Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for RBC Bearings (NYSE:RBC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in RBC Bearings Right Now?

Before you consider RBC Bearings, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RBC Bearings wasn't on the list.

While RBC Bearings currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Next 7 Blockbuster Stocks for Growth Investors Cover

Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

The Market’s Next Big Winners? Start Here
5 High Short Interest Stocks to Buy Before November
HUGE Upside Ahead: The Fastest Growing ETFs in the Market

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines