Whittier Trust Co. Buys 1,436 Shares of RBC Bearings Incorporated $RBC

Whittier Trust Co. raised its stake in RBC Bearings Incorporated (NYSE:RBC) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,454 shares of the industrial products company’s stock after purchasing an additional 1,436 shares during the period. Whittier Trust Co. owned 0.19% of RBC Bearings worth $22,877,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in RBC Bearings in the first quarter valued at $26,000. Golden State Wealth Management LLC increased its stake 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 in the last quarter. IFP Advisors Inc increased its stake 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 in the last quarter. Harbor Investment Advisory LLC increased its stake 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 in the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of RBC Bearings during the first quarter worth about $111,000.

Insider Transactions at RBC Bearings

In other news, COO Daniel A. Bergeron sold 48,743 shares of the 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John J. Feeney sold 105 shares of the 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 of the company’s stock, valued at $1,020,624.78. This represents a 3.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. KeyCorp upped 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. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. The Goldman Sachs Group upped 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. Truist Financial upped 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. Finally, Deutsche Bank Aktiengesellschaft set a $503.00 target price on shares of RBC Bearings and gave the stock a “buy” rating in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $429.00.

RBC Bearings Trading Up 4.0%

Shares of RBC stock opened at $387.89 on Tuesday. RBC Bearings Incorporated has a 52-week low of $272.50 and a 52-week high of $416.33. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33. The company has a 50-day simple moving average of $385.80 and a two-hundred day simple moving average of $372.48. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 48.85, a PEG ratio of 2.88 and a beta of 1.71.

RBC Bearings (NYSE:RBC) last issued 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 during the quarter. Research analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

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.