RBC Bearings Incorporated (NYSE:RBC) Shares Bought by Whittier Trust Co.

Whittier Trust Co. grew its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,018 shares of the industrial products company's stock after buying an additional 1,094 shares during the period. Whittier Trust Co. owned 0.18% of RBC Bearings worth $18,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in RBC Bearings by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock worth $879,149,000 after buying an additional 229,466 shares during the last quarter. Durable Capital Partners LP lifted its holdings in RBC Bearings by 1.9% during the 4th quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company's stock worth $787,141,000 after buying an additional 48,287 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in RBC Bearings by 0.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,097,321 shares of the industrial products company's stock worth $328,253,000 after buying an additional 2,884 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in 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 buying an additional 131,614 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in RBC Bearings by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 507,771 shares of the industrial products company's stock worth $151,944,000 after buying an additional 25,268 shares during the last quarter.

RBC Bearings Stock Performance

RBC stock traded up $14.53 during trading on Wednesday, hitting $390.04. The company had a trading volume of 234,634 shares, compared to its average volume of 160,812. The firm has a market cap of $12.25 billion, a PE ratio of 50.85, a price-to-earnings-growth ratio of 3.82 and a beta of 1.65. RBC Bearings Incorporated has a 1-year low of $260.53 and a 1-year high of $393.51. The firm has a 50-day moving average price of $374.01 and a 200-day moving average price of $346.71. The company has a quick ratio of 1.18, a current ratio of 3.26 and a debt-to-equity ratio of 0.30.

RBC Bearings (NYSE:RBC - Get Free Report) last issued 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. The firm had revenue of $437.70 million for the quarter, compared to analysts' expectations of $440.26 million. RBC Bearings had a return on equity of 10.08% and a net margin of 15.05%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.47 EPS. On average, analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Steven H. Kaplan sold 400 shares of the business's stock in a transaction dated 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 owned 2,499 shares in the company, valued at $952,868.70. The trade was a 13.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Daniel A. Bergeron sold 31,282 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $380.28, for a total value of $11,895,918.96. Following the completion of the transaction, the chief operating officer owned 111,134 shares in the company, valued at $42,262,037.52. This trade represents a 21.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,973 shares of company stock worth $29,186,872. Insiders own 2.60% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on RBC shares. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price target (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Truist Financial boosted their target price on RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft began coverage on RBC Bearings in a report on Wednesday. They issued a "buy" rating and a $480.00 target price for the company. The Goldman Sachs Group boosted their target price on RBC Bearings from $375.00 to $416.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Finally, KeyCorp boosted their target price on RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $421.17.

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.