Legal & General Group Plc Acquires 1,407 Shares of RBC Bearings Incorporated $RBC

Legal & General Group Plc increased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,330 shares of the industrial products company’s stock after acquiring an additional 1,407 shares during the quarter. Legal & General Group Plc owned approximately 0.16% of RBC Bearings worth $18,980,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of RBC Bearings by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,946,581 shares of the industrial products company’s stock worth $1,133,844,000 after purchasing an additional 13,061 shares during the period. Geneva Capital Management LLC increased its holdings in RBC Bearings by 7.4% during the second quarter. Geneva Capital Management LLC now owns 633,230 shares of the industrial products company’s stock worth $243,667,000 after buying an additional 43,812 shares during the last quarter. Geode Capital Management LLC boosted its stake in RBC Bearings by 4.1% in the second quarter. Geode Capital Management LLC now owns 557,858 shares of the industrial products company’s stock valued at $214,699,000 after acquiring an additional 21,972 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in RBC Bearings by 2.0% in the first quarter. Ameriprise Financial Inc. now owns 545,412 shares of the industrial products company’s stock valued at $175,515,000 after acquiring an additional 10,531 shares during the last quarter. Finally, Maren Capital LLC grew its position in shares of RBC Bearings by 4.2% during the 1st quarter. Maren Capital LLC now owns 420,946 shares of the industrial products company’s stock valued at $135,448,000 after acquiring an additional 17,143 shares during the period.

Insider Transactions at RBC Bearings

In other news, Director Steven H. Kaplan sold 700 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total transaction of $310,100.00. Following the sale, the director owned 1,999 shares in the company, valued at approximately $885,557. This trade represents a 25.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP John J. Feeney sold 105 shares of RBC Bearings 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 sale, the vice president directly 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 is available in the SEC filing. 1.90% of the stock is owned by corporate insiders.

RBC Bearings Stock Up 0.4%

RBC stock opened at $444.97 on Friday. The stock has a 50-day simple moving average of $406.70 and a two-hundred day simple moving average of $391.59. RBC Bearings Incorporated has a twelve month low of $290.56 and a twelve month high of $449.60. The firm has a market capitalization of $14.07 billion, a PE ratio of 56.04, a PEG ratio of 3.16 and a beta of 1.73. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. The company had revenue of $156.21 million during the quarter. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. On average, equities analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Bank of America raised shares of RBC Bearings from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $390.00 to $500.00 in a report on Thursday, November 6th. Truist Financial restated a “buy” rating and issued a $471.00 target price (up from $455.00) on shares of RBC Bearings in a research note on Monday, November 3rd. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $503.00 price target on RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, RBC Bearings presently has a consensus rating of “Moderate Buy” and a consensus price target of $459.17.

RBC Bearings 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.