Whittier Trust Co. of Nevada Inc. Boosts Stake in RBC Bearings Incorporated (NYSE:RBC)

Whittier Trust Co. of Nevada Inc. lifted its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,018 shares of the industrial products company's stock after buying an additional 1,107 shares during the period. Whittier Trust Co. of Nevada Inc. owned about 0.10% of RBC Bearings worth $9,658,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 229,466 shares during the period. Durable Capital Partners LP lifted its stake in RBC Bearings by 1.9% in 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 purchasing an additional 48,287 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of RBC Bearings by 0.3% in the fourth 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 in the last quarter. Ameriprise Financial Inc. boosted its position in shares of RBC Bearings by 32.6% during the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock valued at $159,998,000 after acquiring an additional 131,614 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in RBC Bearings by 5.2% in 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 in the last quarter.

RBC Bearings Trading Down 0.4%

Shares of NYSE:RBC traded down $1.47 during midday trading on Tuesday, hitting $375.24. 152,898 shares of the stock traded hands, compared to its average volume of 161,088. The company has a quick ratio of 1.18, a current ratio of 3.26 and a debt-to-equity ratio of 0.30. The business's 50 day moving average is $371.71 and its two-hundred day moving average is $345.67. The stock has a market capitalization of $11.79 billion, a PE ratio of 48.92, a P/E/G ratio of 3.84 and a beta of 1.65. RBC Bearings Incorporated has a one year low of $260.53 and a one year high of $393.51.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.13. RBC Bearings had a return on equity of 10.08% and a net margin of 15.05%. The firm had revenue of $437.70 million for the quarter, compared to analyst estimates of $440.26 million. During the same period last year, the company earned $2.47 EPS. The business's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Analyst Ratings Changes

RBC has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price objective on shares of RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Truist Financial lifted their price target on 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 reiterated an "overweight" rating and set a $415.00 price objective (up from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Finally, KeyCorp boosted their target price on RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $409.40.

Insider Transactions at RBC Bearings

In other news, Director Steven H. Kaplan sold 400 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $381.30, for a total value of $152,520.00. Following the sale, the director directly owned 2,499 shares of the company's stock, valued at $952,868.70. This represents a 13.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael H. Ambrose sold 595 shares of the business'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 value of $218,555.40. Following the completion of the sale, the director directly owned 6,985 shares in the company, valued at approximately $2,565,730.20. This represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,973 shares of company stock worth $29,186,872 in the last ninety days. 2.60% of the stock is owned by company insiders.

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.