Voya Investment Management LLC Lowers Stock Position in RBC Bearings Incorporated $RBC

Voya Investment Management LLC cut its holdings in RBC Bearings Incorporated (NYSE:RBC) by 50.3% during the third quarter, Holdings Channel reports. The institutional investor owned 2,731 shares of the industrial products company’s stock after selling 2,760 shares during the quarter. Voya Investment Management LLC’s holdings in RBC Bearings were worth $1,066,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Jump Financial LLC bought a new stake in RBC Bearings during the first quarter worth about $254,000. Vident Advisory LLC boosted its position in shares of RBC Bearings by 21.4% in the 1st quarter. Vident Advisory LLC now owns 1,095 shares of the industrial products company’s stock worth $352,000 after purchasing an additional 193 shares in the last quarter. Quarry LP grew its stake in shares of RBC Bearings by 55.1% in the 1st quarter. Quarry LP now owns 605 shares of the industrial products company’s stock worth $195,000 after buying an additional 215 shares during the last quarter. Advisors Asset Management Inc. bought a new position in RBC Bearings during the 1st quarter valued at approximately $26,000. Finally, AQR Capital Management LLC raised its stake in RBC Bearings by 27.8% during the first quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock valued at $417,000 after buying an additional 282 shares during the last quarter.

Insider Buying and Selling

In other RBC Bearings news, Director Steven H. Kaplan sold 700 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total value of $310,100.00. Following the transaction, the director directly owned 1,999 shares in the company, valued at approximately $885,557. This trade represents a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RBC. Zacks Research downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Truist Financial reiterated a “buy” rating and issued a $471.00 target price (up previously from $455.00) on shares of RBC Bearings in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $527.00 price target on shares of RBC Bearings and gave the company a “buy” rating in a research report on Wednesday, December 17th. Bank of America upgraded RBC Bearings from a “neutral” rating to a “buy” rating and increased their target price for the company from $390.00 to $500.00 in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $463.17.

RBC Bearings Price Performance

NYSE RBC opened at $452.62 on Wednesday. The stock has a market capitalization of $14.31 billion, a price-to-earnings ratio of 55.27, a PEG ratio of 3.13 and a beta of 1.53. RBC Bearings Incorporated has a 1-year low of $290.56 and a 1-year high of $465.80. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.18 and a quick ratio of 1.13. The business’s fifty day moving average price is $437.63 and its 200-day moving average price is $404.29.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%.The company had revenue of $156.21 million during the quarter. On average, equities analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.