RBC Bearings Incorporated $RBC Shares Sold by Atria Investments Inc

Atria Investments Inc reduced its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 15.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,497 shares of the industrial products company’s stock after selling 1,217 shares during the period. Atria Investments Inc’s holdings in RBC Bearings were worth $2,500,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of RBC. Retirement Systems of Alabama raised its holdings in RBC Bearings by 28.7% in the 2nd quarter. Retirement Systems of Alabama now owns 53,551 shares of the industrial products company’s stock valued at $20,606,000 after acquiring an additional 11,951 shares during the last quarter. Keybank National Association OH acquired a new position in RBC Bearings in the 2nd quarter valued at $229,000. Hantz Financial Services Inc. grew its position in shares of RBC Bearings by 1,257.1% in the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 88 shares during the period. World Investment Advisors purchased a new stake in shares of RBC Bearings in the second quarter valued at $507,000. Finally, Jennison Associates LLC grew its position in shares of RBC Bearings by 101.1% in the second quarter. Jennison Associates LLC now owns 96,742 shares of the industrial products company’s stock valued at $37,226,000 after purchasing an additional 48,628 shares during the period.

Insider Activity

In other news, VP John J. Feeney sold 105 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $382.83, for a total value of $40,197.15. Following the completion of the sale, the vice president owned 2,666 shares of the company’s stock, valued at $1,020,624.78. This represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Daniel A. Bergeron sold 48,743 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer directly owned 111,134 shares of the company’s stock, valued at $44,759,218.50. The trade was a 30.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is owned by corporate insiders.

RBC Bearings Trading Down 0.2%

Shares of RBC opened at $427.71 on Tuesday. RBC Bearings Incorporated has a twelve month low of $283.47 and a twelve month high of $432.89. The firm has a market capitalization of $13.50 billion, a P/E ratio of 53.87, a price-to-earnings-growth ratio of 3.16 and a beta of 1.71. The company has a current ratio of 3.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.29. The stock’s fifty day simple moving average is $387.93 and its 200 day simple moving average is $378.98.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share (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 during the quarter. On average, equities research analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RBC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RBC Bearings in a research report on Wednesday, October 8th. The Goldman Sachs Group lifted their price objective on RBC Bearings from $375.00 to $416.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft set a $503.00 price objective on RBC Bearings and gave the company a “buy” rating in a research report on Wednesday, October 8th. Truist Financial reaffirmed a “buy” rating and issued a $471.00 price objective (up previously from $455.00) on shares of RBC Bearings in a research report on Monday. Finally, KeyCorp lifted their price objective on RBC Bearings from $405.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average price target of $431.67.

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.