Wealth Enhancement Advisory Services LLC Takes $253,000 Position in RBC Bearings Incorporated (NYSE:RBC)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 786 shares of the industrial products company's stock, valued at approximately $253,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. NBC Securities Inc. purchased a new stake in RBC Bearings during the 1st quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of RBC Bearings by 109.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 59 shares during the period. UMB Bank n.a. grew its holdings in shares of RBC Bearings by 80.8% in the first 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. Quarry LP increased its stake in shares of RBC Bearings by 30.9% in the fourth quarter. Quarry LP now owns 390 shares of the industrial products company's stock worth $117,000 after buying an additional 92 shares during the period. Finally, Huntington National Bank increased its stake in shares of RBC Bearings by 18.3% in the fourth quarter. Huntington National Bank now owns 622 shares of the industrial products company's stock worth $186,000 after buying an additional 96 shares during the period.

Insider Transactions at RBC Bearings

In other RBC Bearings news, COO Daniel A. Bergeron sold 31,282 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the completion of the transaction, the chief operating officer owned 111,134 shares of the company's stock, valued at approximately $42,262,037.52. This trade represents a 21.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven H. Kaplan sold 400 shares of the business's 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 sale, the director owned 2,499 shares in the company, valued at approximately $952,868.70. This trade represents a 13.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,973 shares of company stock worth $29,186,872 over the last 90 days. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RBC. Morgan Stanley reissued an "overweight" rating and issued a $415.00 price target (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. The Goldman Sachs Group increased their target price on shares of RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Truist Financial raised their target price on RBC Bearings from $405.00 to $431.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, RBC Bearings currently has an average rating of "Moderate Buy" and a consensus target price of $398.40.

RBC Bearings Trading Down 0.2%

NYSE RBC traded down $0.94 during trading on Friday, hitting $377.97. The company had a trading volume of 145,803 shares, compared to its average volume of 160,723. The company's fifty day moving average is $371.71 and its 200-day moving average is $345.10. RBC Bearings Incorporated has a one year low of $260.53 and a one year high of $393.51. The company has a current ratio of 3.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.30. The company has a market cap of $11.87 billion, a price-to-earnings ratio of 49.28, a price-to-earnings-growth ratio of 3.87 and a beta of 1.65.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.13. RBC Bearings had a net margin of 15.05% and a return on equity of 10.08%. The company had revenue of $437.70 million for the quarter, compared to analysts' expectations of $440.26 million. During the same quarter in the previous year, the company earned $2.47 earnings per share. RBC Bearings's quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

RBC Bearings Company 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.