RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in RBC Bearings Incorporated (NYSE:RBC) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,126 shares of the industrial products company’s stock after selling 149 shares during the quarter. Amalgamated Bank’s holdings in RBC Bearings were worth $5,449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RBC. Vanguard Group Inc. boosted its holdings in shares of RBC Bearings by 2.2% in the third quarter. Vanguard Group Inc. now owns 2,694,538 shares of the industrial products company’s stock valued at $630,872,000 after acquiring an additional 57,510 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of RBC Bearings by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 712,962 shares of the industrial products company’s stock worth $166,926,000 after buying an additional 99,066 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in RBC Bearings by 0.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 695,547 shares of the industrial products company’s stock valued at $198,154,000 after buying an additional 3,415 shares in the last quarter. Bamco Inc. NY grew its holdings in RBC Bearings by 0.8% during the third quarter. Bamco Inc. NY now owns 386,570 shares of the industrial products company’s stock worth $90,508,000 after acquiring an additional 3,084 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in RBC Bearings by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 277,840 shares of the industrial products company’s stock worth $65,051,000 after acquiring an additional 9,557 shares in the last quarter.

RBC Bearings Trading Up 3.4 %

RBC Bearings stock opened at $258.59 on Tuesday. The company has a 50 day moving average price of $260.16 and a 200 day moving average price of $259.41. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 43.24, a P/E/G ratio of 4.76 and a beta of 1.46. RBC Bearings Incorporated has a 52 week low of $195.18 and a 52 week high of $288.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.12 and a current ratio of 3.28.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). The business had revenue of $373.91 million for the quarter, compared to analysts’ expectations of $376.61 million. RBC Bearings had a net margin of 12.81% and a return on equity of 9.64%. Research analysts forecast that RBC Bearings Incorporated will post 8.02 EPS for the current year.

Insider Transactions at RBC Bearings

In related news, COO Daniel A. Bergeron sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total transaction of $4,008,300.00. Following the transaction, the chief operating officer now directly owns 121,935 shares of the company’s stock, valued at $32,583,470.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RBC. Citigroup lifted their price objective on shares of RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Truist Financial lifted their price target on shares of RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, RBC Bearings currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.86.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.