MidFirst Bank Takes $561,000 Position in RBC Bearings Incorporated $RBC

MidFirst Bank acquired a new stake in shares of RBC Bearings Incorporated (NYSE:RBC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,251 shares of the industrial products company’s stock, valued at approximately $561,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its stake in RBC Bearings by 106.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after buying an additional 33 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of RBC Bearings in the fourth quarter worth $35,000. Advisors Asset Management Inc. bought a new stake in shares of RBC Bearings in the first quarter worth $26,000. Larson Financial Group LLC increased its position in RBC Bearings by 148.5% during the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 49 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in RBC Bearings by 123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 53 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have issued reports on RBC. Wall Street Zen upgraded RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. KeyCorp raised their price objective on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Morgan Stanley boosted their target price on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Weiss Ratings downgraded shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. Finally, Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, RBC Bearings has a consensus rating of “Moderate Buy” and a consensus price target of $584.00.

RBC Bearings Trading Up 0.0%

Shares of RBC stock opened at $639.26 on Friday. RBC Bearings Incorporated has a 52-week low of $364.50 and a 52-week high of $640.02. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18. The firm has a market capitalization of $20.23 billion, a PE ratio of 70.33, a PEG ratio of 3.69 and a beta of 1.42. The stock has a fifty day simple moving average of $593.28 and a two-hundred day simple moving average of $540.13.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. The business had revenue of $518.00 million for the quarter, compared to analysts’ expectations of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the firm earned $2.83 earnings per share. On average, analysts predict that RBC Bearings Incorporated will post 13.58 EPS for the current fiscal year.

Insider Transactions at RBC Bearings

In related news, Director Edward Stewart sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total value of $355,698.00. Following the transaction, the director directly owned 21,337 shares of the company’s stock, valued at approximately $12,649,213.71. The trade was a 2.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

RBC Bearings 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.