XML Financial LLC Acquires Shares of 630 RBC Bearings Incorporated (NYSE:RBC)

XML Financial LLC acquired a new stake in RBC Bearings Incorporated (NYSE:RBCFree Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 630 shares of the industrial products company’s stock, valued at approximately $203,000.

A number of other institutional investors also recently bought and sold shares of RBC. NBC Securities Inc. purchased a new stake in shares of RBC Bearings in the first quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of RBC Bearings by 109.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 59 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of RBC Bearings by 80.8% in the first quarter. UMB Bank n.a. now owns 311 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 139 shares in the last quarter. Quarry LP boosted its holdings in shares of RBC Bearings by 30.9% in the fourth quarter. Quarry LP now owns 390 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 92 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in shares of RBC Bearings by 18.3% in the fourth quarter. Huntington National Bank now owns 622 shares of the industrial products company’s stock valued at $186,000 after acquiring an additional 96 shares in the last quarter.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, Director Michael H. Ambrose sold 595 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $367.32, for a total value of $218,555.40. Following the sale, the director now owns 6,985 shares of the company’s stock, valued at $2,565,730.20. This represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Daniel A. Bergeron sold 3,718 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $382.21, for a total transaction of $1,421,056.78. Following the completion of the sale, the chief operating officer now directly owns 111,134 shares in the company, valued at $42,476,526.14. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,973 shares of company stock valued at $29,186,872 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Truist Financial lifted their target price on shares of RBC Bearings from $405.00 to $431.00 and gave the company a “buy” rating in a report on Thursday, June 12th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, RBC Bearings presently has an average rating of “Moderate Buy” and an average target price of $394.00.

Read Our Latest Stock Report on RBC Bearings

RBC Bearings Stock Up 2.0%

RBC stock opened at $388.72 on Wednesday. The company has a market cap of $12.21 billion, a P/E ratio of 50.68, a P/E/G ratio of 3.89 and a beta of 1.66. RBC Bearings Incorporated has a 52 week low of $260.53 and a 52 week high of $390.67. The company’s 50-day moving average price is $356.86 and its 200 day moving average price is $339.59. The company has a current ratio of 3.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.30.

RBC Bearings (NYSE:RBCGet Free Report) last released its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.13. The firm had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.26 million. RBC Bearings had a net margin of 15.05% and a return on equity of 10.08%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.47 earnings per share. On average, research analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

About RBC Bearings

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for RBC Bearings (NYSE:RBC)

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