Diversified Trust Co Trims Stake in RBC Bearings Incorporated $RBC

Diversified Trust Co lessened its holdings in RBC Bearings Incorporated (NYSE:RBC) by 37.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,345 shares of the industrial products company’s stock after selling 794 shares during the period. Diversified Trust Co’s holdings in RBC Bearings were worth $730,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RBC. Advisors Asset Management Inc. purchased a new position in RBC Bearings during the first quarter worth about $26,000. SBI Securities Co. Ltd. increased its position in shares of RBC Bearings by 106.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 33 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of RBC Bearings by 148.5% in the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 49 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of RBC Bearings in the 4th quarter valued at approximately $35,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of RBC Bearings by 123.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 53 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RBC. Morgan Stanley lifted their target price on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Truist Financial restated a “buy” rating and set a $615.00 price target (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. KeyCorp raised their price target on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Zacks Research downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Finally, Wall Street Zen raised RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $584.00.

Insider Transactions at RBC Bearings

In other news, Director Edward Stewart sold 600 shares of RBC Bearings stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total value of $355,698.00. Following the completion of the transaction, the director owned 21,337 shares in the company, valued at approximately $12,649,213.71. This trade represents a 2.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by corporate insiders.

RBC Bearings Price Performance

RBC Bearings stock opened at $638.87 on Thursday. The firm has a market cap of $20.21 billion, a PE ratio of 70.28, a price-to-earnings-growth ratio of 3.66 and a beta of 1.42. RBC Bearings Incorporated has a 52-week low of $364.50 and a 52-week high of $648.32. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $595.84 and its two-hundred day moving average is $545.02.

RBC Bearings (NYSE:RBC) last posted its quarterly 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 business had revenue of $518.00 million during the quarter, compared to the consensus estimate of $505.90 million. During the same quarter in the previous year, the firm posted $2.83 earnings per share. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, research analysts expect that RBC Bearings Incorporated will post 13.58 EPS for the current fiscal year.

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.