RBC Bearings Incorporated $RBC Shares Purchased by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. increased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,481 shares of the industrial products company’s stock after acquiring an additional 187 shares during the period. Cookson Peirce & Co. Inc.’s holdings in RBC Bearings were worth $955,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new position in RBC Bearings during the first quarter worth $26,000. Golden State Wealth Management LLC grew its holdings in RBC Bearings by 107.1% in the first quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 136 shares during the last quarter. SVB Wealth LLC acquired a new stake in RBC Bearings in the first quarter valued at $111,000. IFP Advisors Inc grew its holdings in RBC Bearings by 51.6% in the second quarter. IFP Advisors Inc now owns 291 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 99 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its holdings in RBC Bearings by 19.8% in the second quarter. Harbor Investment Advisory LLC now owns 327 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 54 shares during the last quarter.

RBC Bearings Stock Performance

NYSE RBC opened at $393.95 on Thursday. The business’s 50-day moving average price is $385.21 and its 200 day moving average price is $372.77. RBC Bearings Incorporated has a twelve month low of $272.50 and a twelve month high of $416.33. The company has a market capitalization of $12.43 billion, a PE ratio of 49.62, a price-to-earnings-growth ratio of 3.03 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.

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

Insider Transactions at RBC Bearings

In other news, COO Daniel A. Bergeron sold 48,743 shares of the firm’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 transaction, the chief operating officer directly owned 111,134 shares in the company, valued at $44,759,218.50. This trade represents a 30.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John J. Feeney sold 105 shares of the stock in a transaction dated Friday, September 26th. The shares were 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 approximately $1,020,624.78. This trade represents a 3.79% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

RBC has been the topic of several research reports. Deutsche Bank Aktiengesellschaft set a $503.00 target price on RBC Bearings and gave the company a “buy” rating in a report on Wednesday, October 8th. KeyCorp upped their target price on RBC Bearings from $405.00 to $450.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. The Goldman Sachs Group upped their target price on RBC Bearings from $375.00 to $416.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Weiss Ratings reissued a “buy (b)” rating on shares of RBC Bearings in a report on Wednesday, October 8th. Finally, Truist Financial increased their price objective on RBC Bearings from $431.00 to $455.00 and gave the company a “buy” rating in a research note on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $429.00.

RBC Bearings Company Profile

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.