RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lowered its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 9.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 782 shares of the industrial products company’s stock after selling 80 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in RBC Bearings were worth $211,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RBC. Hsbc Holdings PLC acquired a new position in RBC Bearings during the fourth quarter worth about $2,708,000. Steward Partners Investment Advisory LLC increased its stake in RBC Bearings by 16.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,168 shares of the industrial products company’s stock valued at $333,000 after purchasing an additional 167 shares in the last quarter. Stifel Financial Corp raised its holdings in RBC Bearings by 2.6% during the fourth quarter. Stifel Financial Corp now owns 49,422 shares of the industrial products company’s stock worth $14,080,000 after purchasing an additional 1,271 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in shares of RBC Bearings by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 12,540 shares of the industrial products company’s stock worth $3,573,000 after buying an additional 120 shares during the last quarter. Finally, KBC Group NV acquired a new stake in shares of RBC Bearings during the 4th quarter worth about $155,000.

RBC Bearings Stock Performance

RBC stock opened at $302.45 on Wednesday. The stock’s 50 day simple moving average is $288.98 and its 200 day simple moving average is $277.81. RBC Bearings Incorporated has a 12-month low of $214.14 and a 12-month high of $309.01. The firm has a market cap of $8.84 billion, a P/E ratio of 47.26, a P/E/G ratio of 3.43 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 issued its quarterly earnings data 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 business 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 business earned $1.98 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that RBC Bearings Incorporated will post 8.95 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Michael J. Hartnett sold 503 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total value of $145,367.00. Following the transaction, the chief executive officer now owns 322,588 shares in the company, valued at approximately $93,227,932. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 completion of the sale, the chief executive officer now directly owns 322,588 shares in the company, valued at $93,227,932. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 12,539 shares in the company, valued at approximately $3,669,789.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,327 shares of company stock worth $11,900,641. 2.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on RBC shares. Raymond James initiated coverage on shares of RBC Bearings in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial reduced their target price on RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, RBC Bearings presently has a consensus rating of “Moderate Buy” and an average price target 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.