YHB Investment Advisors Inc. Invests $222,000 in RBC Bearings Incorporated (NYSE:RBC)

YHB Investment Advisors Inc. purchased a new stake in RBC Bearings Incorporated (NYSE:RBC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 743 shares of the industrial products company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. UMB Bank n.a. grew its holdings in shares of RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after buying an additional 75 shares during the last quarter. DT Investment Partners LLC acquired a new position in RBC Bearings during the 2nd quarter valued at about $35,000. Opal Wealth Advisors LLC bought a new stake in RBC Bearings during the 2nd quarter worth approximately $41,000. Benjamin F. Edwards & Company Inc. raised its stake 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 worth $44,000 after purchasing an additional 137 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of RBC Bearings in the second quarter valued at approximately $54,000.

Analyst Upgrades and Downgrades

RBC has been the subject of a number of analyst reports. Truist Financial lowered their price target on RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Raymond James initiated coverage on shares of RBC Bearings in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $287.67.

Insider Activity at RBC Bearings

In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was 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 of the company’s stock, valued at $3,669,789.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction dated 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 transaction, the vice president now owns 12,539 shares in the company, valued at $3,669,789.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward Stewart sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $277.24, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,327 shares of company stock worth $11,900,641. Insiders own 2.60% of the company’s stock.

RBC Bearings Trading Up 0.4 %

NYSE RBC opened at $288.16 on Friday. The business’s fifty day moving average is $290.34 and its 200-day moving average is $280.08. 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 stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 42.50, a PEG ratio of 3.25 and a beta of 1.51. RBC Bearings Incorporated has a one year low of $214.14 and a one year high of $309.01.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.54 EPS for the quarter, topping 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 business had revenue of $406.30 million for the quarter, compared to analyst estimates of $416.65 million. During the same quarter in the previous year, the firm posted $1.98 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts predict that RBC Bearings Incorporated will post 8.95 EPS for the current year.

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.