Strategic Financial Concepts LLC Buys Shares of 25,375 RBC Bearings Incorporated (NYSE:RBC)

Strategic Financial Concepts LLC purchased a new stake in RBC Bearings Incorporated (NYSE:RBC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 25,375 shares of the industrial products company’s stock, valued at approximately $68,000. Strategic Financial Concepts LLC owned 0.09% of RBC Bearings as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. 1832 Asset Management L.P. bought a new position in shares of RBC Bearings in the fourth quarter valued at approximately $27,000. Principal Securities Inc. bought a new position in shares of RBC Bearings in the fourth quarter valued at approximately $30,000. DT Investment Partners LLC bought a new position in shares of RBC Bearings in the second quarter valued at approximately $35,000. Opal Wealth Advisors LLC bought a new position in shares of RBC Bearings in the second quarter valued at approximately $41,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of RBC Bearings by 570.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 161 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 137 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Raymond James assumed coverage on shares of RBC Bearings in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. William Blair initiated coverage on shares of RBC Bearings in a research report on Wednesday, May 29th. They set an “outperform” rating on the stock. Morgan Stanley boosted their target price on shares of RBC Bearings from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Truist Financial dropped their target price on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, The Goldman Sachs Group boosted their target price on shares of RBC Bearings from $245.00 to $276.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $287.67.

RBC Bearings Trading Down 0.4 %

Shares of RBC Bearings stock opened at $283.19 on Wednesday. The firm has a market capitalization of $8.19 billion, a PE ratio of 44.25, a price-to-earnings-growth ratio of 3.44 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. The company’s fifty day moving average price is $286.56 and its two-hundred day moving average price is $274.94. RBC Bearings Incorporated has a 52-week low of $214.14 and a 52-week high of $309.01.

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

Insider Activity

In other news, Director Edward Stewart sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $277.24, for a total value of $831,720.00. Following the sale, the director now owns 20,461 shares in the company, valued at approximately $5,672,607.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Edward Stewart sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $277.24, for a total value of $831,720.00. Following the sale, the director now owns 20,461 shares in the company, valued at approximately $5,672,607.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard J. Edwards sold 4,200 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were 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 owns 12,539 shares in the company, valued at approximately $3,669,789.13. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

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.