Whittier Trust Co. of Nevada Inc. Purchases 1,002 Shares of RBC Bearings Incorporated $RBC

Key Points

• Whittier Trust Co. of Nevada Inc. has increased its holdings in RBC Bearings by 3.3% by purchasing 1,002 additional shares, raising its total ownership to approximately 31,020 shares valued at $11.9 million.
• RBC Bearings reported a $1.22 EPS for the last quarter, with a revenue of $156.21 million, and analysts anticipate the company will post 9.16 EPS for the current fiscal year.
• Several investment analysts have rated RBC Bearings with a consensus "Moderate Buy" and an average price target of $429.00, while some have recently upgraded their price targets for the stock.

Whittier Trust Co. of Nevada Inc. boosted its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 3.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,020 shares of the industrial products company's stock after purchasing an additional 1,002 shares during the quarter. Whittier Trust Co. of Nevada Inc. owned approximately 0.10% of RBC Bearings worth $11,936,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new position in RBC Bearings in the first quarter worth about $253,000. New York State Teachers Retirement System raised its holdings in RBC Bearings by 21.3% in the first quarter. New York State Teachers Retirement System now owns 5,700 shares of the industrial products company's stock worth $1,834,000 after purchasing an additional 1,000 shares in the last quarter. Personal CFO Solutions LLC bought a new position in RBC Bearings in the first quarter worth about $296,000. HB Wealth Management LLC bought a new position in RBC Bearings in the second quarter worth about $237,000. Finally, GAMMA Investing LLC raised its holdings in RBC Bearings by 21.1% in the first quarter. GAMMA Investing LLC now owns 626 shares of the industrial products company's stock worth $201,000 after purchasing an additional 109 shares in the last quarter.

RBC Bearings Stock Performance

RBC opened at $387.89 on Tuesday. The firm's 50-day moving average price is $385.80 and its 200-day moving average price is $372.48. The company has a market cap of $12.24 billion, a P/E ratio of 48.85, a price-to-earnings-growth ratio of 2.88 and a beta of 1.71. RBC Bearings Incorporated has a 52-week low of $272.50 and a 52-week high of $416.33. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its earnings results on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. The firm had revenue of $156.21 million for the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%. As a group, equities analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Daniel A. Bergeron sold 48,743 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $402.75, for a total value of $19,631,243.25. Following the sale, the chief operating officer owned 111,134 shares in the company, valued at $44,759,218.50. This represents a 30.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John J. Feeney sold 105 shares of the company's stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $382.83, for a total value of $40,197.15. Following the completion of the sale, the vice president owned 2,666 shares in the company, valued at approximately $1,020,624.78. This represents a 3.79% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RBC has been the subject of a number of recent research reports. Truist Financial boosted their target price on shares of RBC Bearings from $431.00 to $455.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $503.00 price objective on shares of RBC Bearings and gave the company a "buy" rating in a report on Wednesday, October 8th. Weiss Ratings restated a "buy (b)" rating on shares of RBC Bearings in a report on Wednesday, October 8th. KeyCorp upped their price objective on shares of RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Zacks Research downgraded shares of RBC Bearings from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $429.00.

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.

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