RBC Bearings Incorporated (NYSE:RBC) Shares Bought by Berry Wealth Group LP

Berry Wealth Group LP grew its stake in RBC Bearings Incorporated (NYSE:RBC) by 19.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 899 shares of the industrial products company’s stock after purchasing an additional 144 shares during the period. Berry Wealth Group LP’s holdings in RBC Bearings were worth $269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of RBC. UMB Bank n.a. boosted its position in RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. DT Investment Partners LLC purchased a new position in shares of RBC Bearings in the 2nd quarter valued at about $35,000. Opal Wealth Advisors LLC acquired a new stake in RBC Bearings in the second quarter valued at approximately $41,000. Benjamin F. Edwards & Company Inc. grew its stake in RBC Bearings by 570.8% in the 1st 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 during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in RBC Bearings in the 2nd quarter worth $54,000.

RBC Bearings Trading Down 0.1 %

Shares of RBC traded down $0.30 during midday trading on Monday, reaching $287.80. The company had a trading volume of 32,418 shares, compared to its average volume of 143,432. RBC Bearings Incorporated has a 1-year low of $214.14 and a 1-year high of $309.01. The company has a quick ratio of 1.09, a current ratio of 3.01 and a debt-to-equity ratio of 0.40. The firm has a 50 day simple moving average of $289.95 and a 200-day simple moving average of $279.55. The stock has a market cap of $8.32 billion, a PE ratio of 45.02, a price-to-earnings-growth ratio of 3.21 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data 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 firm had revenue of $406.30 million during the quarter, compared to analysts’ expectations of $416.65 million. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. RBC Bearings’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business earned $1.98 earnings per share. Research analysts forecast that RBC Bearings Incorporated will post 8.95 EPS for the current fiscal year.

Insider Activity

In related news, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 12,539 shares in the company, valued at approximately $3,669,789.13. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Richard J. Edwards sold 4,200 shares of the company’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 transaction, the vice president now owns 12,539 shares of the company’s stock, valued at $3,669,789.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the director now owns 20,461 shares of the company’s stock, valued at approximately $5,672,607.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,327 shares of company stock valued at $11,900,641. 2.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. 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. Raymond James began coverage on RBC Bearings in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from 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.