RBC Bearings Incorporated (NYSE:RBC) Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its position in shares of RBC Bearings Incorporated (NYSE:RBCFree Report) by 9.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,546 shares of the industrial products company’s stock after acquiring an additional 10,925 shares during the quarter. Sei Investments Co.’s holdings in RBC Bearings were worth $30,096,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. First Capital Advisors Group LLC. acquired a new position in RBC Bearings in the 2nd quarter valued at approximately $26,000. LWM Advisory Services LLC acquired a new position in RBC Bearings in the 3rd quarter valued at approximately $31,000. Compass Wealth Management LLC acquired a new position in RBC Bearings in the 1st quarter valued at approximately $34,000. Stephens Inc. AR acquired a new position in RBC Bearings in the 1st quarter valued at approximately $36,000. Finally, First Manhattan CO. LLC. acquired a new position in RBC Bearings in the 1st quarter valued at approximately $40,000.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Truist Financial increased their price target on shares of RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Citigroup upped their price objective on shares of RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Wells Fargo & Company upped their price objective on shares of RBC Bearings from $235.00 to $240.00 and gave the stock an “equal weight” rating in a report on Monday, November 13th. The Goldman Sachs Group upped their price objective on shares of RBC Bearings from $229.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday, December 14th. Finally, Bank of America raised shares of RBC Bearings from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $230.00 to $280.00 in a report on Wednesday, November 29th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $275.86.

View Our Latest Research Report on RBC Bearings

Insider Buying and Selling

In other news, Director Michael H. Ambrose sold 300 shares of RBC Bearings stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $277.80, for a total value of $83,340.00. Following the sale, the director now directly owns 6,800 shares in the company, valued at $1,889,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Michael H. Ambrose sold 300 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $277.80, for a total transaction of $83,340.00. Following the transaction, the director now directly owns 6,800 shares in the company, valued at $1,889,040. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Daniel A. Bergeron sold 15,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was 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 owns 121,935 shares in the company, valued at $32,583,470.70. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

RBC Bearings Trading Down 0.8 %

RBC opened at $268.05 on Friday. The company has a current ratio of 3.28, a quick ratio of 1.12 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $7.82 billion, a PE ratio of 44.82, a PEG ratio of 5.69 and a beta of 1.45. RBC Bearings Incorporated has a 1-year low of $195.18 and a 1-year high of $288.16. The firm has a 50-day moving average price of $271.58 and a two-hundred day moving average price of $252.21.

RBC Bearings (NYSE:RBCGet Free Report) last issued its earnings results on Thursday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.08). The business had revenue of $373.91 million during the quarter, compared to the consensus estimate of $376.61 million. RBC Bearings had a net margin of 12.81% and a return on equity of 9.64%. As a group, equities analysts anticipate that RBC Bearings Incorporated will post 8.1 earnings per share for the current fiscal year.

About RBC Bearings

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for RBC Bearings (NYSE:RBC)

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