Whittier Trust Co. of Nevada Inc. Buys 1,046 Shares of RBC Bearings Incorporated (NYSE:RBC)

Whittier Trust Co. of Nevada Inc. boosted its holdings in RBC Bearings Incorporated (NYSE:RBC) by 3.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,570 shares of the industrial products company’s stock after purchasing an additional 1,046 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in RBC Bearings were worth $8,254,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in RBC Bearings by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock worth $738,433,000 after acquiring an additional 19,574 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in RBC Bearings by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,095,607 shares of the industrial products company’s stock worth $566,549,000 after buying an additional 20,491 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in RBC Bearings by 1.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,941,467 shares of the industrial products company’s stock worth $523,769,000 after acquiring an additional 22,470 shares during the last quarter. Wasatch Advisors LP increased its position in shares of RBC Bearings by 1.6% during the first quarter. Wasatch Advisors LP now owns 1,787,938 shares of the industrial products company’s stock valued at $483,369,000 after acquiring an additional 28,749 shares during the last quarter. Finally, Conestoga Capital Advisors LLC raised its position in RBC Bearings by 3.5% in the second quarter. Conestoga Capital Advisors LLC now owns 728,467 shares of the industrial products company’s stock worth $196,526,000 after acquiring an additional 24,470 shares during the period.

Insider Buying and Selling

In related news, Director Edward Stewart sold 3,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $277.24, for a total transaction of $831,720.00. Following the sale, the director now directly owns 20,461 shares of the company’s stock, valued at approximately $5,672,607.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Michael J. Hartnett sold 503 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the transaction, the chief executive officer now owns 322,588 shares of the company’s stock, valued at approximately $93,227,932. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward Stewart sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $277.24, for a total value of $831,720.00. Following the sale, the director now directly owns 20,461 shares in the company, valued at $5,672,607.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,327 shares of company stock valued at $11,900,641. Corporate insiders own 2.90% of the company’s stock.

RBC Bearings Stock Down 0.8 %

Shares of NYSE:RBC traded down $2.38 during trading hours on Monday, hitting $285.72. The company’s stock had a trading volume of 58,009 shares, compared to its average volume of 143,550. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 44.69, a P/E/G ratio of 3.21 and a beta of 1.51. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.01 and a quick ratio of 1.09. RBC Bearings Incorporated has a 52 week low of $214.14 and a 52 week high of $309.01. The firm’s fifty day moving average price is $289.95 and its 200 day moving average price is $279.67.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.33. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. The business had revenue of $406.30 million for the quarter, compared to analyst estimates of $416.65 million. During the same quarter in the previous year, the firm earned $1.98 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. As a group, research analysts expect that RBC Bearings Incorporated will post 8.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RBC. Truist Financial dropped their price objective on RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Raymond James assumed coverage on RBC Bearings in a report on Friday, June 28th. They set a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $287.67.

About RBC Bearings

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.