Ethic Inc. Acquires 393 Shares of RBC Bearings Incorporated $RBC

Ethic Inc. grew its position in RBC Bearings Incorporated (NYSE:RBC) by 29.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,733 shares of the industrial products company’s stock after buying an additional 393 shares during the quarter. Ethic Inc.’s holdings in RBC Bearings were worth $661,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. grew its position in shares of RBC Bearings by 8.2% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 2,481 shares of the industrial products company’s stock worth $955,000 after buying an additional 187 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in RBC Bearings by 3.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 31,020 shares of the industrial products company’s stock worth $11,936,000 after acquiring an additional 1,002 shares during the period. Whittier Trust Co. boosted its position in RBC Bearings by 2.5% in the second quarter. Whittier Trust Co. now owns 59,454 shares of the industrial products company’s stock valued at $22,877,000 after buying an additional 1,436 shares during the last quarter. Klingman & Associates LLC acquired a new stake in shares of RBC Bearings in the second quarter worth $217,000. Finally, Securian Asset Management Inc. raised its stake in shares of RBC Bearings by 4.2% during the 2nd quarter. Securian Asset Management Inc. now owns 2,461 shares of the industrial products company’s stock valued at $947,000 after buying an additional 100 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RBC shares. The Goldman Sachs Group boosted their target price on shares of RBC Bearings from $375.00 to $416.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RBC Bearings in a research note on Wednesday, October 8th. Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Truist Financial upped their target price on RBC Bearings from $431.00 to $455.00 and gave the company a “buy” rating in a report on Monday, August 4th. Finally, KeyCorp lifted their price target on shares of RBC Bearings from $405.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $429.00.

Insider Activity

In other RBC Bearings news, COO Daniel A. Bergeron sold 48,743 shares of RBC Bearings stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $402.75, for a total value of $19,631,243.25. Following the transaction, the chief operating officer directly owned 111,134 shares in the company, valued at approximately $44,759,218.50. This trade represents a 30.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John J. Feeney sold 105 shares of RBC Bearings stock in a transaction on Friday, September 26th. The shares were sold at an average price of $382.83, for a total transaction of $40,197.15. Following the completion of the transaction, the vice president owned 2,666 shares in the company, valued at approximately $1,020,624.78. This trade represents a 3.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

RBC Bearings Stock Down 0.2%

Shares of RBC Bearings stock opened at $411.24 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average of $385.90 and a 200 day moving average of $375.52. The company has a market capitalization of $12.98 billion, a P/E ratio of 51.79, a P/E/G ratio of 3.18 and a beta of 1.71. RBC Bearings Incorporated has a 52-week low of $272.50 and a 52-week high of $416.88.

RBC Bearings (NYSE:RBC) last posted its earnings results on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The firm had revenue of $156.21 million for the quarter. As a group, research analysts forecast that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal 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.