Whittier Trust Co. of Nevada Inc. Has $9.66 Million Stake in RBC Bearings Incorporated (NYSE:RBC)

Whittier Trust Co. of Nevada Inc. raised its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 3.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in shares of RBC Bearings during the first quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. increased 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 worth $36,000 after purchasing an additional 59 shares during the period. Golden State Wealth Management LLC increased its stake in shares of RBC Bearings by 107.1% during the first quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company's stock worth $85,000 after purchasing an additional 136 shares during the period. UMB Bank n.a. increased its stake in shares of RBC Bearings by 80.8% during 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 period. Finally, Quarry LP increased its stake in shares of RBC Bearings by 30.9% during the fourth quarter. Quarry LP now owns 390 shares of the industrial products company's stock worth $117,000 after purchasing an additional 92 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on RBC Bearings in a research note on Wednesday. They set a "buy" rating and a $480.00 target price on the stock. Morgan Stanley restated an "overweight" rating and set a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. The Goldman Sachs Group raised their price objective on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. KeyCorp raised their price objective on RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Truist Financial raised their price objective 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 analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $421.17.

Insiders Place Their Bets

In other RBC Bearings news, Director Michael H. Ambrose sold 595 shares of the firm's stock in a transaction 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 sale, the director owned 6,985 shares of the company's stock, valued at approximately $2,565,730.20. This trade represents a 7.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Daniel A. Bergeron sold 31,282 shares of the firm's stock in a transaction on 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 sale, the chief operating officer directly owned 111,134 shares in the company, valued at approximately $42,262,037.52. This represents a 21.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,973 shares of company stock worth $29,186,872. 2.60% of the stock is owned by company insiders.

RBC Bearings Price Performance

RBC Bearings stock traded down $1.13 during mid-day trading on Friday, reaching $395.91. 91,012 shares of the company were exchanged, compared to its average volume of 160,165. The company has a fifty day simple moving average of $374.97 and a 200-day simple moving average of $347.40. RBC Bearings Incorporated has a 12 month low of $260.53 and a 12 month high of $402.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.26 and a quick ratio of 1.18. 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 (NYSE:RBC - Get Free Report) last issued its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts' consensus estimates of $2.70 by $0.13. The firm had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.26 million. RBC Bearings had a return on equity of 10.08% and a net margin of 15.05%. The company's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.47 EPS. As a group, equities research analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

About RBC Bearings

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.