Free Trial

Y Intercept Hong Kong Ltd Buys Shares of 1,233 RBC Bearings Incorporated (NYSE:RBC)

RBC Bearings logo with Industrials background

Y Intercept Hong Kong Ltd purchased a new position in RBC Bearings Incorporated (NYSE:RBC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,233 shares of the industrial products company's stock, valued at approximately $397,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in RBC Bearings during the fourth quarter valued at approximately $88,184,000. GAMMA Investing LLC increased its position in RBC Bearings by 38,860.9% in 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 last quarter. Ameriprise Financial Inc. increased its position in RBC Bearings by 32.6% in 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 last quarter. First Trust Advisors LP increased its position in RBC Bearings by 63.5% in 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 last quarter. Finally, DF Dent & Co. Inc. bought a new stake in RBC Bearings in the fourth quarter worth $23,962,000.

Analyst Upgrades and Downgrades

RBC has been the topic of a number of analyst reports. Truist Financial boosted their price objective on shares of RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. KeyCorp increased their target price on shares of RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. The Goldman Sachs Group increased their price target on shares of RBC Bearings from $375.00 to $416.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of RBC Bearings in a research note on Wednesday, July 16th. They issued a "buy" rating and a $480.00 target price for the company. Finally, Morgan Stanley reissued an "overweight" rating and set a $415.00 price target (up from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $421.17.

View Our Latest Stock Report on RBC Bearings

RBC Bearings Price Performance

RBC Bearings stock traded up $12.56 during trading on Friday, reaching $399.90. The company had a trading volume of 104,625 shares, compared to its average volume of 164,720. The firm's 50-day simple moving average is $379.56 and its 200 day simple moving average is $353.65. RBC Bearings Incorporated has a 1-year low of $260.53 and a 1-year high of $405.18. The firm has a market capitalization of $12.62 billion, a PE ratio of 52.13, a price-to-earnings-growth ratio of 3.16 and a beta of 1.65. 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 announced its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.13. RBC Bearings had a net margin of 15.05% and a return on equity of 10.08%. The company had revenue of $437.70 million for the quarter, compared to analysts' expectations of $440.26 million. During the same quarter in the previous year, the company posted $2.47 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Steven H. Kaplan sold 400 shares of RBC Bearings stock in a transaction on Monday, June 9th. The stock was sold at an average price of $381.30, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $11,895,918.96. Following the completion of the sale, the chief operating officer owned 111,134 shares in the company, valued at approximately $42,262,037.52. This trade represents a 21.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,973 shares of company stock worth $29,186,872 in the last quarter. 1.90% of the stock is currently owned by insiders.

About RBC Bearings

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for RBC Bearings (NYSE:RBC)

Should You Invest $1,000 in RBC Bearings Right Now?

Before you consider RBC Bearings, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RBC Bearings wasn't on the list.

While RBC Bearings currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Elon Musk's Next Move Cover

Explore Elon Musk’s boldest ventures yet—from AI and autonomy to space colonization—and find out how investors can ride the next wave of innovation.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

5 Stocks to BUY NOW in August 2025
The $2.5B Merger No One Is Talking About
ALERT: Big Tech Earnings – Watch Before Wednesday

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines