Diversified Trust Co Sells 475 Shares of RBC Bearings Incorporated (NYSE:RBC)

Diversified Trust Co lowered its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 13.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,138 shares of the industrial products company’s stock after selling 475 shares during the quarter. Diversified Trust Co’s holdings in RBC Bearings were worth $848,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. 1832 Asset Management L.P. bought a new position in RBC Bearings in the 4th quarter valued at $27,000. Principal Securities Inc. bought a new position in RBC Bearings in the 4th quarter valued at $30,000. GAMMA Investing LLC bought a new position in RBC Bearings in the 4th quarter valued at $66,000. Mather Group LLC. bought a new position in RBC Bearings in the 1st quarter valued at $133,000. Finally, Fifth Third Bancorp grew its position in RBC Bearings by 13.2% in the 4th quarter. Fifth Third Bancorp now owns 479 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 56 shares during the last quarter.

RBC Bearings Trading Up 1.0 %

Shares of NYSE RBC opened at $270.75 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.28 and a quick ratio of 1.16. The stock has a market capitalization of $7.83 billion, a P/E ratio of 42.30, a price-to-earnings-growth ratio of 3.30 and a beta of 1.51. RBC Bearings Incorporated has a 1-year low of $203.65 and a 1-year high of $299.24. The business has a fifty day moving average price of $273.36 and a 200 day moving average price of $270.47.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, May 17th. The industrial products company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.22. RBC Bearings had a return on equity of 9.81% and a net margin of 13.45%. The firm had revenue of $413.70 million during the quarter, compared to analysts’ expectations of $414.21 million. During the same period in the prior year, the business posted $2.06 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research 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 stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $279.16, for a total value 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 document filed with the SEC, which is available at this link. 2.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RBC has been the topic of several research analyst reports. The Goldman Sachs Group upped their price objective on RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Morgan Stanley upped their target price on RBC Bearings from $310.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Raymond James started coverage on RBC Bearings in a report on Friday, June 28th. They issued a “market perform” rating for the company. Truist Financial upped their target price on RBC Bearings from $309.00 to $328.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Finally, William Blair started coverage on RBC Bearings in a report on Wednesday, May 29th. They issued an “outperform” rating for the company. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, RBC Bearings has an average rating of “Moderate Buy” and a consensus price target of $286.57.

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.