RBC Bearings Incorporated (NYSE:RBC) Shares Bought by Torray Investment Partners LLC

Torray Investment Partners LLC raised its holdings in RBC Bearings Incorporated (NYSE:RBC) by 10.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,404 shares of the industrial products company’s stock after purchasing an additional 825 shares during the period. Torray Investment Partners LLC’s holdings in RBC Bearings were worth $2,267,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in RBC Bearings during the 4th quarter valued at $83,318,000. Maren Capital LLC purchased a new stake in RBC Bearings during the 4th quarter worth about $80,912,000. Public Employees Retirement Association of Colorado raised its stake in RBC Bearings by 1,362.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 118,830 shares of the industrial products company’s stock valued at $33,853,000 after purchasing an additional 110,705 shares during the last quarter. Douglas Lane & Associates LLC lifted its holdings in RBC Bearings by 123.9% in the 2nd quarter. Douglas Lane & Associates LLC now owns 81,862 shares of the industrial products company’s stock valued at $22,085,000 after purchasing an additional 45,294 shares in the last quarter. Finally, Wasatch Advisors LP boosted its stake in shares of RBC Bearings by 1.6% during the 1st quarter. Wasatch Advisors LP now owns 1,787,938 shares of the industrial products company’s stock worth $483,369,000 after purchasing an additional 28,749 shares during the last quarter.

Insiders Place Their Bets

In other news, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the completion of the sale, the vice president now directly owns 12,539 shares in the company, valued at $3,669,789.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Richard J. Edwards sold 4,200 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total value of $1,229,214.00. Following the sale, the vice president now directly owns 12,539 shares of the company’s stock, valued at $3,669,789.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward Stewart sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $277.24, for a total transaction of $831,720.00. Following the transaction, the director now directly owns 20,461 shares of the company’s stock, valued at $5,672,607.64. The disclosure for this sale can be found here. Insiders sold a total of 7,800 shares of company stock worth $2,228,430 in the last 90 days. 2.90% of the stock is owned by company insiders.

RBC Bearings Trading Down 0.6 %

Shares of NYSE RBC traded down $1.78 during midday trading on Friday, hitting $282.59. The stock had a trading volume of 114,966 shares, compared to its average volume of 142,638. The company has a fifty day moving average price of $285.99 and a 200 day moving average price of $274.67. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 3.63 and a beta of 1.51. RBC Bearings Incorporated has a 1-year low of $214.14 and a 1-year high of $309.01. The company has a quick ratio of 1.09, a current ratio of 3.01 and a debt-to-equity ratio of 0.40.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.33. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. The firm had revenue of $406.30 million for the quarter, compared to analysts’ expectations of $416.65 million. During the same period in the previous year, the company posted $1.98 earnings per share. RBC Bearings’s revenue was up 5.0% compared to the same quarter last year. On average, analysts predict that RBC Bearings Incorporated will post 8.85 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on RBC. The Goldman Sachs Group upped their price objective on shares of RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. William Blair assumed coverage on RBC Bearings in a research note on Wednesday, May 29th. They set an “outperform” rating on the stock. Raymond James began coverage on RBC Bearings in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Morgan Stanley increased their target price on RBC Bearings from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, Truist Financial lowered their price target on RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Four 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.67.

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.