Sanctuary Advisors LLC Purchases Shares of 4,061 RBC Bearings Incorporated (NYSE:RBC)

Sanctuary Advisors LLC purchased a new stake in RBC Bearings Incorporated (NYSE:RBC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,061 shares of the industrial products company’s stock, valued at approximately $1,096,000.

Other institutional investors have also recently added to or reduced their stakes in the company. DT Investment Partners LLC acquired a new position in RBC Bearings in the second quarter valued at approximately $35,000. Opal Wealth Advisors LLC bought a new stake in shares of RBC Bearings during the second quarter valued at approximately $41,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of RBC Bearings by 570.8% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 161 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 137 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of RBC Bearings during the second quarter valued at approximately $54,000. Finally, EntryPoint Capital LLC bought a new stake in shares of RBC Bearings during the first quarter valued at approximately $80,000.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $284.23, for a total value of $852,690.00. Following the completion of the transaction, the chief executive officer now owns 294,120 shares in the company, valued at $83,597,727.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael J. Hartnett sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $284.23, for a total transaction of $852,690.00. Following the transaction, the chief executive officer now owns 294,120 shares of the company’s stock, valued at $83,597,727.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Hartnett sold 503 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 322,588 shares in the company, valued at $93,227,932. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,327 shares of company stock worth $11,900,641 in the last quarter. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Trading Up 0.7 %

Shares of RBC Bearings stock opened at $280.65 on Friday. The stock has a fifty day simple moving average of $288.81 and a 200 day simple moving average of $278.83. RBC Bearings Incorporated has a 12-month low of $214.14 and a 12-month high of $309.01. The company has a market capitalization of $8.20 billion, a P/E ratio of 41.39, a price-to-earnings-growth ratio of 3.22 and a beta of 1.51. The company has a current ratio of 3.01, a quick ratio of 1.09 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 (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.33. The business had revenue of $406.30 million during the quarter, compared to the consensus estimate of $416.65 million. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. RBC Bearings’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.98 earnings per share. On average, sell-side analysts anticipate that RBC Bearings Incorporated will post 8.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RBC shares. Raymond James started coverage on RBC Bearings in a report on Friday, June 28th. They set a “market perform” rating for the company. Truist Financial decreased their price objective 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, RBC Bearings has a consensus rating of “Moderate Buy” and a consensus target price 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.