2,638 Shares in RBC Bearings Incorporated $RBC Bought by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV purchased a new stake in shares of RBC Bearings Incorporated (NYSE:RBC) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,638 shares of the industrial products company’s stock, valued at approximately $1,433,000.

Several other hedge funds have also recently added to or reduced their stakes in RBC. Ritholtz Wealth Management boosted its holdings in shares of RBC Bearings by 2.9% in the 1st quarter. Ritholtz Wealth Management now owns 594 shares of the industrial products company’s stock worth $323,000 after purchasing an additional 17 shares in the last quarter. Lido Advisors LLC raised its holdings in shares of RBC Bearings by 3.5% during the 4th quarter. Lido Advisors LLC now owns 647 shares of the industrial products company’s stock valued at $278,000 after buying an additional 22 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of RBC Bearings by 7.1% during the 4th quarter. UMB Bank n.a. now owns 348 shares of the industrial products company’s stock valued at $156,000 after buying an additional 23 shares in the last quarter. Allworth Financial LP lifted its position in RBC Bearings by 12.1% in the 3rd quarter. Allworth Financial LP now owns 259 shares of the industrial products company’s stock worth $101,000 after buying an additional 28 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in RBC Bearings by 4.7% in the second quarter. Brown Advisory Inc. now owns 685 shares of the industrial products company’s stock worth $264,000 after buying an additional 31 shares in the last quarter.

Insiders Place Their Bets

In other RBC Bearings news, VP John J. Feeney sold 225 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $657.94, for a total value of $148,036.50. Following the transaction, the vice president owned 2,378 shares in the company, valued at approximately $1,564,581.32. The trade was a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dolores J. Ennico sold 600 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total transaction of $381,666.00. Following the transaction, the director directly owned 7,254 shares of the company’s stock, valued at approximately $4,614,341.94. This trade represents a 7.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,425 shares of company stock valued at $885,400 in the last quarter. Insiders own 1.90% of the company’s stock.

RBC Bearings Stock Performance

NYSE:RBC opened at $594.82 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18. RBC Bearings Incorporated has a fifty-two week low of $364.50 and a fifty-two week high of $667.69. The firm has a market cap of $18.82 billion, a PE ratio of 65.44, a price-to-earnings-growth ratio of 3.42 and a beta of 1.40. The business has a 50 day moving average price of $601.75 and a 200-day moving average price of $558.22.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, topping the consensus estimate of $3.31 by $0.31. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. The company had revenue of $518.00 million for the quarter, compared to the consensus estimate of $505.90 million. During the same period in the previous year, the firm earned $2.83 earnings per share. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. Equities research analysts predict that RBC Bearings Incorporated will post 13.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

RBC has been the topic of several research reports. Weiss Ratings downgraded shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Truist Financial reiterated a “buy” rating and issued a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Morgan Stanley boosted their price target on shares of RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. Finally, Wall Street Zen lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $584.00.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.