Lindenwold Advisors INC Sells 130 Shares of RBC Bearings Incorporated $RBC

Lindenwold Advisors INC lessened its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 15.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 730 shares of the industrial products company’s stock after selling 130 shares during the period. Lindenwold Advisors INC’s holdings in RBC Bearings were worth $281,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC boosted its holdings in shares of RBC Bearings by 50.8% during the 1st quarter. Park Avenue Securities LLC now owns 2,647 shares of the industrial products company’s stock valued at $852,000 after buying an additional 892 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of RBC Bearings during the 1st quarter valued at $253,000. New York State Teachers Retirement System boosted its holdings in shares of RBC Bearings by 21.3% during the 1st quarter. New York State Teachers Retirement System now owns 5,700 shares of the industrial products company’s stock valued at $1,834,000 after buying an additional 1,000 shares in the last quarter. Personal CFO Solutions LLC bought a new position in RBC Bearings in the 1st quarter worth about $296,000. Finally, HB Wealth Management LLC bought a new position in RBC Bearings in the 2nd quarter worth about $237,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $503.00 price target on shares of RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial upped their price target on shares of RBC Bearings from $431.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. KeyCorp upped their price target on shares of RBC Bearings from $405.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Finally, The Goldman Sachs Group upped their price target on shares of RBC Bearings from $375.00 to $416.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, RBC Bearings presently has an average rating of “Moderate Buy” and a consensus price target of $429.00.

Insider Activity

In other news, COO Daniel A. Bergeron sold 48,743 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $402.75, for a total transaction of $19,631,243.25. Following the completion of the sale, the chief operating officer owned 111,134 shares of the company’s stock, valued at $44,759,218.50. This represents a 30.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John J. Feeney sold 105 shares of the company’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $382.83, for a total transaction of $40,197.15. Following the sale, the vice president directly owned 2,666 shares of the company’s stock, valued at $1,020,624.78. The trade was 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.

RBC Bearings Price Performance

Shares of NYSE:RBC opened at $373.51 on Friday. RBC Bearings Incorporated has a fifty-two week low of $272.50 and a fifty-two week high of $416.33. The business has a 50-day simple moving average of $388.69 and a two-hundred day simple moving average of $369.71. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33. The firm has a market cap of $11.79 billion, a price-to-earnings ratio of 47.04, a price-to-earnings-growth ratio of 2.98 and a beta of 1.71.

RBC Bearings (NYSE:RBC) last issued its earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The business had revenue of $156.21 million during the quarter. On average, analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

RBC Bearings Company Profile

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.