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

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of RBC. Norges Bank acquired a new position in RBC Bearings during the fourth quarter worth about $88,184,000. Vanguard Group Inc. raised its stake in RBC Bearings by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock worth $879,149,000 after purchasing an additional 229,466 shares during the period. GAMMA Investing LLC raised its stake in RBC Bearings by 38,860.9% during the first quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company's stock worth $64,813,000 after purchasing an additional 200,911 shares during the period. Ameriprise Financial Inc. raised its stake in RBC Bearings by 32.6% during the fourth quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock worth $159,998,000 after purchasing an additional 131,614 shares during the period. Finally, First Trust Advisors LP raised its stake in RBC Bearings by 63.5% during the fourth quarter. First Trust Advisors LP now owns 315,661 shares of the industrial products company's stock worth $94,427,000 after purchasing an additional 122,552 shares during the period.

Insider Buying and Selling at RBC Bearings

In related news, COO Daniel A. Bergeron sold 31,282 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the sale, the chief operating officer directly owned 111,134 shares of the company's stock, valued at $42,262,037.52. This represents a 21.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael H. Ambrose sold 595 shares of the company's 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 sale, the director directly owned 6,985 shares in the company, valued at approximately $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. Insiders sold 76,973 shares of company stock valued at $29,186,872 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RBC shares. KeyCorp lifted their target price on shares of RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research note on Tuesday. Truist Financial lifted their target price on shares of RBC Bearings from $405.00 to $431.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 target price (up from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of RBC Bearings in a research note on Wednesday. They set a "buy" rating and a $480.00 target price on the stock. Finally, 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 note on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $421.17.

RBC Bearings Trading Down 0.3%

Shares of RBC Bearings stock traded down $1.13 on Friday, reaching $395.91. The company had a trading volume of 91,012 shares, compared to its average volume of 160,165. The firm's 50 day moving average price is $374.97 and its two-hundred day moving average price is $347.40. The firm has a market cap of $12.44 billion, a PE ratio of 51.61, a PEG ratio of 3.96 and a beta of 1.65. RBC Bearings Incorporated has a 52-week low of $260.53 and a 52-week high of $402.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.18 and a current ratio of 3.26.

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

RBC Bearings 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.