Diversified Trust Co reduced its position in shares of RBC Bearings Incorporated (NYSE:RBC – Free Report) by 37.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,345 shares of the industrial products company’s stock after selling 794 shares during the period. Diversified Trust Co’s holdings in RBC Bearings were worth $730,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the business. Comerica Bank raised its position in shares of RBC Bearings by 19.5% during the 4th quarter. Comerica Bank now owns 90,283 shares of the industrial products company’s stock worth $40,486,000 after acquiring an additional 14,747 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in RBC Bearings by 263.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,737 shares of the industrial products company’s stock valued at $1,788,000 after purchasing an additional 2,709 shares in the last quarter. Faithward Advisors LLC acquired a new position in RBC Bearings in the third quarter valued at approximately $2,826,000. DNB Asset Management AS increased its stake in RBC Bearings by 91.6% in the third quarter. DNB Asset Management AS now owns 6,987 shares of the industrial products company’s stock valued at $2,727,000 after purchasing an additional 3,340 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in RBC Bearings by 36.4% in the third quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company’s stock valued at $137,669,000 after purchasing an additional 94,203 shares during the last quarter.
RBC Bearings Price Performance
RBC stock opened at $638.87 on Thursday. The company has a current ratio of 2.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $20.21 billion, a P/E ratio of 70.28, a PEG ratio of 3.66 and a beta of 1.42. The business has a 50 day simple moving average of $595.84 and a 200-day simple moving average of $545.02. RBC Bearings Incorporated has a twelve month low of $364.50 and a twelve month high of $648.32.
Insider Transactions at RBC Bearings
In other RBC Bearings news, Director Edward Stewart sold 600 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total transaction of $355,698.00. Following the transaction, the director directly owned 21,337 shares of the company’s stock, valued at approximately $12,649,213.71. This trade represents a 2.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.90% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently issued reports on RBC. Truist Financial restated a “buy” rating and issued a $615.00 target price (up from $599.00) on shares of RBC Bearings in a report on Tuesday, May 19th. KeyCorp lifted their price target on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Wall Street Zen raised shares of RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Morgan Stanley raised their price objective on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings cut RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $584.00.
View Our Latest Analysis on RBC
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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