RBC Bearings Incorporated $RBC Shares Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC reduced its stake in RBC Bearings Incorporated (NYSE:RBC) by 9.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,791 shares of the industrial products company’s stock after selling 187 shares during the period. Curated Wealth Partners LLC’s holdings in RBC Bearings were worth $689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in RBC. GAMMA Investing LLC lifted its stake in shares of RBC Bearings by 21.1% in the 1st quarter. GAMMA Investing LLC now owns 626 shares of the industrial products company’s stock worth $201,000 after acquiring an additional 109 shares during the period. Fifth Third Bancorp raised its holdings in shares of RBC Bearings by 15.8% in the 1st quarter. Fifth Third Bancorp now owns 690 shares of the industrial products company’s stock worth $222,000 after purchasing an additional 94 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of RBC Bearings in the 1st quarter worth approximately $253,000. Sagespring Wealth Partners LLC bought a new stake in shares of RBC Bearings in the 1st quarter worth approximately $218,000. Finally, State of Alaska Department of Revenue raised its holdings in shares of RBC Bearings by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 3,660 shares of the industrial products company’s stock worth $1,177,000 after purchasing an additional 95 shares in the last quarter.

RBC Bearings Stock Up 0.8%

RBC stock opened at $383.81 on Wednesday. The company’s 50 day simple moving average is $387.81 and its 200-day simple moving average is $370.70. RBC Bearings Incorporated has a 52-week low of $272.50 and a 52-week high of $416.33. The firm has a market capitalization of $12.11 billion, a P/E ratio of 48.34, a P/E/G ratio of 2.94 and a beta of 1.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.33 and a quick ratio of 1.33.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on RBC. Weiss Ratings reiterated a “buy (b)” rating on shares of RBC Bearings in a report on Wednesday, October 8th. Truist Financial boosted their target price on shares of RBC Bearings from $431.00 to $455.00 and gave the stock a “buy” rating in a report on Monday, August 4th. The Goldman Sachs Group boosted their target price on shares of RBC Bearings from $375.00 to $416.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. KeyCorp boosted their target price on shares of RBC Bearings from $405.00 to $450.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, RBC Bearings presently has an average rating of “Moderate Buy” and an average price target of $429.00.

Insider Buying and Selling

In related news, COO Daniel A. Bergeron sold 48,743 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $402.75, for a total transaction of $19,631,243.25. Following the transaction, the chief operating officer directly owned 111,134 shares of the company’s stock, valued at approximately $44,759,218.50. The trade was a 30.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP John J. Feeney sold 105 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $382.83, for a total transaction of $40,197.15. Following the transaction, the vice president directly owned 2,666 shares in the company, valued at $1,020,624.78. The trade was a 3.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

About RBC Bearings

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.