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Yousif Capital Management LLC decreased its holdings in RBC Bearings Incorporated (NYSE:RBC – Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,791 shares of the industrial products company’s stock after selling 226 shares during the period. Yousif Capital Management LLC’s holdings in RBC Bearings were worth $3,472,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG raised its stake in RBC Bearings by 2.9% in the fourth quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company’s stock valued at $529,000 after buying an additional 49 shares during the period. Bank of New York Mellon Corp raised its stake in RBC Bearings by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company’s stock valued at $59,581,000 after buying an additional 1,103 shares during the period. Allspring Global Investments Holdings LLC raised its stake in RBC Bearings by 39.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company’s stock valued at $66,247,000 after buying an additional 62,706 shares during the period. Callan Family Office LLC raised its stake in RBC Bearings by 251.7% in the fourth quarter. Callan Family Office LLC now owns 2,416 shares of the industrial products company’s stock valued at $723,000 after buying an additional 1,729 shares during the period. Finally, Advantage Alpha Capital Partners LP raised its stake in RBC Bearings by 35.3% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 18,514 shares of the industrial products company’s stock valued at $5,545,000 after buying an additional 4,835 shares during the period.
Analyst Ratings Changes
RBC has been the topic of several research analyst reports. Truist Financial upped their price objective on RBC Bearings from $405.00 to $431.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley reiterated an “overweight” rating and set a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, RBC Bearings currently has a consensus rating of “Moderate Buy” and a consensus price target of $394.00.
Check Out Our Latest Analysis on RBC
Insider Buying and Selling
In related news, COO Daniel A. Bergeron sold 3,718 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $382.21, for a total transaction of $1,421,056.78. Following the sale, the chief operating officer now owns 111,134 shares of the company’s stock, valued at $42,476,526.14. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Hartnett sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $1,875,000.00. Following the sale, the chief executive officer now directly owns 311,853 shares in the company, valued at $116,944,875. This represents a 1.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,378 shares of company stock valued at $25,625,987 over the last 90 days. 2.60% of the stock is owned by corporate insiders.
RBC Bearings Price Performance
Shares of NYSE RBC opened at $371.48 on Friday. The firm has a market cap of $11.67 billion, a P/E ratio of 51.03, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a 1-year low of $260.53 and a 1-year high of $386.41. The business’s 50 day moving average is $349.04 and its 200-day moving average is $337.58.
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 for the quarter, topping analysts’ consensus estimates of $2.70 by $0.13. The company had revenue of $437.70 million for the quarter, compared to analyst estimates of $440.26 million. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.47 earnings per share. Equities research analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current 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.
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