RBC Bearings Incorporated (NYSE:RBC) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,370 shares of the industrial products company’s stock after selling 45 shares during the quarter. ProShare Advisors LLC’s holdings in RBC Bearings were worth $370,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RBC. Public Employees Retirement Association of Colorado lifted its stake in shares of RBC Bearings by 1,362.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 118,830 shares of the industrial products company’s stock worth $33,853,000 after purchasing an additional 110,705 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of RBC Bearings by 22.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company’s stock worth $93,626,000 after purchasing an additional 64,217 shares during the period. Maren Capital LLC lifted its stake in shares of RBC Bearings by 17.2% during the 1st quarter. Maren Capital LLC now owns 332,856 shares of the industrial products company’s stock worth $89,988,000 after purchasing an additional 48,844 shares during the period. American Century Companies Inc. lifted its stake in shares of RBC Bearings by 30.4% during the 2nd quarter. American Century Companies Inc. now owns 206,630 shares of the industrial products company’s stock worth $55,745,000 after purchasing an additional 48,209 shares during the period. Finally, Douglas Lane & Associates LLC lifted its stake in shares of RBC Bearings by 123.9% during the 2nd quarter. Douglas Lane & Associates LLC now owns 81,862 shares of the industrial products company’s stock worth $22,085,000 after purchasing an additional 45,294 shares during the period.

RBC Bearings Trading Down 1.5 %

Shares of RBC opened at $297.66 on Thursday. The company has a current ratio of 3.01, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $8.61 billion, a P/E ratio of 46.51, a price-to-earnings-growth ratio of 3.43 and a beta of 1.51. The stock’s fifty day simple moving average is $289.25 and its 200 day simple moving average is $277.95. RBC Bearings Incorporated has a twelve month low of $214.14 and a twelve month high of $309.01.

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, beating the consensus estimate of $2.21 by $0.33. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. The firm had revenue of $406.30 million during the quarter, compared to the consensus estimate of $416.65 million. During the same period in the prior year, the firm earned $1.98 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts forecast that RBC Bearings Incorporated will post 8.95 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on RBC shares. Raymond James started coverage on RBC Bearings in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial cut their target price on RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $287.67.

Insider Activity at RBC Bearings

In related news, Director Edward Stewart sold 3,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $277.24, for a total value of $831,720.00. Following the completion of the sale, the director now directly owns 20,461 shares in the company, valued at approximately $5,672,607.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Edward Stewart sold 3,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $277.24, for a total value of $831,720.00. Following the completion of the sale, the director now directly owns 20,461 shares in the company, valued at approximately $5,672,607.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction 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 owns 12,539 shares of the company’s stock, valued at $3,669,789.13. The disclosure for this sale can be found here. In the last three months, insiders sold 41,327 shares of company stock worth $11,900,641. Corporate insiders own 2.90% of the company’s stock.

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.