RBC Bearings Incorporated $RBC Shares Sold by Tidal Investments LLC

Tidal Investments LLC lessened its stake in RBC Bearings Incorporated (NYSE:RBC) by 4.3% in the second quarter, Holdings Channel reports. The institutional investor owned 30,275 shares of the industrial products company’s stock after selling 1,362 shares during the quarter. Tidal Investments LLC’s holdings in RBC Bearings were worth $19,499,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH acquired a new stake in RBC Bearings during the second quarter valued at approximately $6,493,000. Fifth Third Bancorp grew its position in shares of RBC Bearings by 12,957.3% in the 1st quarter. Fifth Third Bancorp now owns 74,949 shares of the industrial products company’s stock worth $40,707,000 after acquiring an additional 74,375 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of RBC Bearings by 9.6% in the 4th quarter. Bessemer Group Inc. now owns 83,865 shares of the industrial products company’s stock valued at $37,607,000 after acquiring an additional 7,315 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of RBC Bearings in the 2nd quarter valued at approximately $5,165,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of RBC Bearings by 7.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 48,359 shares of the industrial products company’s stock valued at $21,686,000 after acquiring an additional 3,226 shares in the last quarter.

Insiders Place Their Bets

In other RBC Bearings news, VP John Feeney sold 225 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $657.94, for a total transaction of $148,036.50. Following the completion of the transaction, the vice president owned 2,378 shares in the company, valued at approximately $1,564,581.32. The trade was a 8.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dolores Ennico sold 600 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $636.11, for a total value of $381,666.00. Following the completion of the transaction, the director directly owned 7,254 shares of the company’s stock, valued at approximately $4,614,341.94. The trade was a 7.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.80% of the company’s stock.

RBC Bearings Stock Performance

RBC opened at $476.94 on Friday. The business’s 50 day moving average is $548.90 and its 200-day moving average is $571.24. The stock has a market cap of $15.10 billion, a PE ratio of 47.13, a price-to-earnings-growth ratio of 2.60 and a beta of 1.39. The company has a current ratio of 2.53, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21. RBC Bearings Incorporated has a twelve month low of $364.50 and a twelve month high of $667.69.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, July 31st. The industrial products company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.42 by $0.46. RBC Bearings had a return on equity of 12.06% and a net margin of 16.40%.The business had revenue of $519.50 million during the quarter, compared to analyst estimates of $508.92 million. During the same period in the prior year, the company posted $2.84 EPS. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, analysts predict that RBC Bearings Incorporated will post 14.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RBC shares. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Raymond James Financial raised RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 target price for the company in a report on Monday, August 3rd. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings downgraded RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 27th. Finally, Truist Financial upped their price objective on RBC Bearings from $615.00 to $646.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $623.00.

RBC Bearings Company Profile

RBC Bearings Incorporated is a manufacturer of highly engineered bearings and motion-control components. The company designs and produces products used to reduce friction, support rotating or moving equipment, and manage loads in demanding operating environments. Its offerings include plain bearings, roller bearings, ball bearings, spherical bearings, rod ends, thrust bearings, and specialty bearing assemblies.

The company supplies components for aerospace and defense applications, industrial machinery, transportation equipment, construction and mining systems, medical devices, and energy-related equipment.