First Bank & Trust Sells 114 Shares of RBC Bearings Incorporated (NYSE:RBC)

First Bank & Trust decreased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,158 shares of the industrial products company’s stock after selling 114 shares during the period. First Bank & Trust’s holdings in RBC Bearings were worth $646,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RBC. Legacy Advisors LLC lifted its position in shares of RBC Bearings by 1.4% in the second quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company’s stock worth $1,223,000 after buying an additional 61 shares in the last quarter. UMB Bank n.a. lifted its position in shares of RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after buying an additional 75 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of RBC Bearings by 23.2% in the third quarter. GAMMA Investing LLC now owns 440 shares of the industrial products company’s stock worth $132,000 after buying an additional 83 shares in the last quarter. RiverPark Advisors LLC lifted its position in shares of RBC Bearings by 9.6% in the second quarter. RiverPark Advisors LLC now owns 993 shares of the industrial products company’s stock worth $268,000 after buying an additional 87 shares in the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of RBC Bearings by 1.4% in the first quarter. State of Michigan Retirement System now owns 7,100 shares of the industrial products company’s stock worth $1,919,000 after buying an additional 100 shares in the last quarter.

Insider Buying and Selling

In other RBC Bearings news, Director Edward Stewart sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $277.24, for a total transaction of $831,720.00. Following the transaction, the director now directly owns 20,461 shares in the company, valued at $5,672,607.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Richard J. Edwards sold 4,200 shares of RBC Bearings 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 directly owns 12,539 shares in the company, valued at approximately $3,669,789.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward Stewart sold 3,000 shares of RBC Bearings stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $277.24, for a total value of $831,720.00. Following the completion of the transaction, the director now owns 20,461 shares in the company, valued at $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 three months, insiders sold 41,327 shares of company stock valued at $11,900,641. Insiders own 2.90% of the company’s stock.

RBC Bearings Trading Up 0.2 %

RBC stock traded up $0.68 during midday trading on Friday, reaching $288.84. 93,574 shares of the company traded hands, compared to its average volume of 143,023. RBC Bearings Incorporated has a 52-week low of $214.14 and a 52-week high of $309.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 3.01. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 45.13, a P/E/G ratio of 3.25 and a beta of 1.51. The business has a 50 day moving average of $290.40 and a 200-day moving average of $280.21.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $416.65 million. During the same period last year, the company earned $1.98 EPS. RBC Bearings’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts expect that RBC Bearings Incorporated will post 8.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RBC shares. Raymond James started coverage on RBC Bearings in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial decreased their price objective 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $287.67.

RBC Bearings Profile

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.