Securian Asset Management Inc. Buys 100 Shares of RBC Bearings Incorporated $RBC

Securian Asset Management Inc. lifted its position in RBC Bearings Incorporated (NYSE:RBC) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,461 shares of the industrial products company’s stock after acquiring an additional 100 shares during the period. Securian Asset Management Inc.’s holdings in RBC Bearings were worth $947,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new position in RBC Bearings during the first quarter valued at $26,000. Golden State Wealth Management LLC grew its stake in shares of RBC Bearings by 107.1% during the first quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company’s stock valued at $85,000 after buying an additional 136 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of RBC Bearings in the first quarter valued at approximately $111,000. IFP Advisors Inc lifted its holdings in RBC Bearings by 51.6% during the second quarter. IFP Advisors Inc now owns 291 shares of the industrial products company’s stock worth $112,000 after buying an additional 99 shares during the period. Finally, Harbor Investment Advisory LLC increased its position in shares of RBC Bearings by 19.8% during the second quarter. Harbor Investment Advisory LLC now owns 327 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 54 shares in the last quarter.

Insider Transactions at RBC Bearings

In other RBC Bearings news, VP John J. Feeney sold 105 shares of the company’s 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 transaction, the vice president owned 2,666 shares in the company, valued at approximately $1,020,624.78. This represents a 3.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Daniel A. Bergeron sold 48,743 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were 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 of the company’s stock, valued at $44,759,218.50. This represents a 30.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

RBC Bearings Stock Up 3.4%

RBC stock opened at $407.23 on Friday. The company has a market cap of $12.85 billion, a P/E ratio of 51.29, a P/E/G ratio of 3.04 and a beta of 1.71. RBC Bearings Incorporated has a 52 week low of $272.50 and a 52 week high of $416.33. The company’s 50-day moving average price is $385.30 and its 200 day moving average price is $373.45. 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 announced its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. The business had revenue of $156.21 million for the quarter. On average, research analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. KeyCorp increased their price target on RBC Bearings from $405.00 to $450.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft set a $503.00 price target on shares of RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group raised their price target on shares of RBC Bearings from $375.00 to $416.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Truist Financial raised their target price on shares of RBC Bearings from $431.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. Finally, Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.