RBC Bearings Incorporated (NYSE:RBC) Stock Holdings Lessened by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its stake in RBC Bearings Incorporated (NYSE:RBC) by 37.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 747 shares of the industrial products company’s stock after selling 448 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in RBC Bearings were worth $213,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of RBC. PNC Financial Services Group Inc. raised its stake in RBC Bearings by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,778 shares of the industrial products company’s stock valued at $1,646,000 after purchasing an additional 50 shares during the period. Fifth Third Bancorp raised its stake in RBC Bearings by 13.2% during the 4th quarter. Fifth Third Bancorp now owns 479 shares of the industrial products company’s stock valued at $136,000 after purchasing an additional 56 shares during the period. Bleakley Financial Group LLC raised its stake in RBC Bearings by 2.1% during the 4th quarter. Bleakley Financial Group LLC now owns 3,197 shares of the industrial products company’s stock valued at $911,000 after purchasing an additional 66 shares during the period. Torray Investment Partners LLC raised its stake in RBC Bearings by 0.9% during the 4th quarter. Torray Investment Partners LLC now owns 7,446 shares of the industrial products company’s stock valued at $2,121,000 after purchasing an additional 69 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in RBC Bearings by 0.6% during the 3rd quarter. Treasurer of the State of North Carolina now owns 12,420 shares of the industrial products company’s stock valued at $2,908,000 after purchasing an additional 70 shares during the period.

Analysts Set New Price Targets

RBC has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of RBC Bearings from $310.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Truist Financial boosted their target price on shares of RBC Bearings from $309.00 to $328.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. William Blair assumed coverage on shares of RBC Bearings in a research note on Wednesday, May 29th. They issued an “outperform” rating on the stock. Finally, The Goldman Sachs Group upped their price target on shares of RBC Bearings from $245.00 to $276.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, RBC Bearings has an average rating of “Moderate Buy” and an average price target of $286.57.

RBC Bearings Trading Up 0.9 %

Shares of NYSE:RBC opened at $271.25 on Friday. The stock has a market capitalization of $7.85 billion, a PE ratio of 42.38, a P/E/G ratio of 3.33 and a beta of 1.55. RBC Bearings Incorporated has a 1 year low of $203.65 and a 1 year high of $299.24. The firm has a fifty day moving average price of $271.89 and a 200 day moving average price of $270.43. The company has a current ratio of 3.28, a quick ratio of 1.16 and a debt-to-equity ratio of 0.43.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, May 17th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.22. The firm had revenue of $413.70 million during the quarter, compared to analysts’ expectations of $414.21 million. RBC Bearings had a net margin of 13.45% and a return on equity of 9.81%. RBC Bearings’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.06 earnings per share. Analysts expect that RBC Bearings Incorporated will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, Director Michael H. Ambrose sold 600 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $279.16, for a total transaction of $167,496.00. Following the completion of the sale, the director now directly owns 6,728 shares in the company, valued at $1,878,188.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

RBC Bearings 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.