Stephens Investment Management Group LLC reduced its holdings in RBC Bearings Incorporated (NYSE:RBC – Free Report) by 2.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 265,038 shares of the industrial products company’s stock after selling 7,269 shares during the quarter. RBC Bearings comprises 2.0% of Stephens Investment Management Group LLC’s holdings, making the stock its 2nd biggest holding. Stephens Investment Management Group LLC’s holdings in RBC Bearings were worth $143,947,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of RBC. SBI Securities Co. Ltd. grew its holdings in shares of RBC Bearings by 106.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 33 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in RBC Bearings during the fourth quarter worth about $35,000. Advisors Asset Management Inc. bought a new stake in RBC Bearings during the first quarter worth about $26,000. Larson Financial Group LLC boosted its position in RBC Bearings by 148.5% during the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 49 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in RBC Bearings by 123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 53 shares during the last quarter.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Weiss Ratings lowered RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Wall Street Zen downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Truist Financial reaffirmed a “buy” rating and set a $615.00 price target (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Finally, Morgan Stanley lifted their price objective on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $584.00.
RBC Bearings Stock Performance
RBC opened at $603.70 on Friday. RBC Bearings Incorporated has a 12-month low of $364.50 and a 12-month high of $667.69. The stock has a market cap of $19.10 billion, a price-to-earnings ratio of 66.41, a PEG ratio of 3.49 and a beta of 1.40. The business has a 50 day moving average of $601.09 and a 200-day moving average of $553.07. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21.
RBC Bearings (NYSE:RBC – Get Free Report) last issued its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, topping the consensus estimate of $3.31 by $0.31. The company had revenue of $518.00 million during the quarter, compared to the consensus estimate of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.83 EPS. On average, equities research analysts expect that RBC Bearings Incorporated will post 13.58 earnings per share for the current year.
Insiders Place Their Bets
In other news, VP John J. Feeney sold 225 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $657.94, for a total value of $148,036.50. Following the transaction, the vice president directly owned 2,378 shares of the company’s stock, valued at $1,564,581.32. This represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward Stewart sold 600 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total transaction of $355,698.00. Following the sale, the director owned 21,337 shares of the company’s stock, valued at approximately $12,649,213.71. This represents a 2.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,425 shares of company stock valued at $885,400 over the last ninety days. 1.90% of the stock is currently owned by company insiders.
About RBC Bearings
RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.
The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.
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