1,509 Shares in RBC Bearings Incorporated $RBC Bought by Sigma Planning Corp

Sigma Planning Corp bought a new position in RBC Bearings Incorporated (NYSE:RBC) in the second quarter, HoldingsChannel reports. The fund bought 1,509 shares of the industrial products company’s stock, valued at approximately $972,000.

Several other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new stake in shares of RBC Bearings during the first quarter valued at about $26,000. Western Wealth Management LLC acquired a new position in shares of RBC Bearings in the first quarter valued at approximately $27,000. SBI Securities Co. Ltd. raised its holdings in RBC Bearings by 106.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after buying an additional 33 shares during the last quarter. Larson Financial Group LLC boosted its position in RBC Bearings by 148.5% during the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after buying an additional 49 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in RBC Bearings by 123.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after buying an additional 53 shares during the period.

RBC Bearings Stock Down 1.2%

Shares of NYSE RBC opened at $488.50 on Wednesday. The company’s 50 day moving average price is $569.06 and its 200-day moving average price is $574.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.98 and a current ratio of 2.53. RBC Bearings Incorporated has a 52-week low of $364.50 and a 52-week high of $667.69. The company has a market capitalization of $15.47 billion, a P/E ratio of 48.27, a price-to-earnings-growth ratio of 2.65 and a beta of 1.39.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, July 31st. The industrial products company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.42 by $0.46. The business had revenue of $519.50 million during the quarter, compared to analysts’ expectations of $508.92 million. RBC Bearings had a return on equity of 12.06% and a net margin of 16.40%.The firm’s revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.84 earnings per share. Equities analysts forecast that RBC Bearings Incorporated will post 14.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Raymond James Financial raised shares of RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 target price on the stock in a report on Monday, August 3rd. Morgan Stanley lifted their price target on shares of RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Wall Street Zen cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Zacks Research downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Finally, Royal Bank Of Canada set a $645.00 target price on RBC Bearings in a research report on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, RBC Bearings presently has an average rating of “Moderate Buy” and a consensus price target of $623.00.

Insider Buying and Selling

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

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.