Bradley Foster & Sargent Inc. CT Has $65.74 Million Stake in RBC Bearings Incorporated $RBC

Bradley Foster & Sargent Inc. CT lowered its position in RBC Bearings Incorporated (NYSE:RBC) by 10.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,049 shares of the industrial products company’s stock after selling 14,587 shares during the period. RBC Bearings accounts for 1.0% of Bradley Foster & Sargent Inc. CT’s portfolio, making the stock its 26th largest holding. Bradley Foster & Sargent Inc. CT owned about 0.38% of RBC Bearings worth $65,744,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Advisors Asset Management Inc. acquired a new stake in RBC Bearings during the 1st quarter valued at $26,000. SBI Securities Co. Ltd. boosted its stake in RBC Bearings by 106.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 33 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of RBC Bearings by 148.5% during the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 49 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of RBC Bearings during the fourth quarter worth $35,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of RBC Bearings by 123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after buying an additional 53 shares in the last quarter.

Insider Transactions at RBC Bearings

In other news, VP John J. Feeney sold 225 shares of RBC Bearings stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total transaction of $148,036.50. Following the completion of the sale, the vice president owned 2,378 shares in the company, valued at $1,564,581.32. The trade was a 8.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $355,698.00. Following the sale, the director directly owned 21,337 shares of the company’s stock, valued at approximately $12,649,213.71. This trade represents a 2.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,425 shares of company stock worth $885,400 in the last quarter. 1.90% of the stock is owned by company insiders.

RBC Bearings Trading Down 0.1%

Shares of RBC opened at $594.57 on Friday. The stock’s fifty day simple moving average is $597.34 and its 200-day simple moving average is $567.29. The firm has a market capitalization of $18.81 billion, a PE ratio of 65.41, a price-to-earnings-growth ratio of 3.39 and a beta of 1.40. RBC Bearings Incorporated has a 12-month low of $364.50 and a 12-month high of $667.69. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm had revenue of $518.00 million during the quarter, compared to analyst estimates of $505.90 million. During the same period last year, the company earned $2.83 earnings per share. The company’s revenue was up 18.3% on a year-over-year basis. As a group, research analysts predict that RBC Bearings Incorporated will post 13.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RBC has been the topic of several research reports. Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Truist Financial restated a “buy” rating and issued a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Wall Street Zen downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings upgraded shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 15th. Finally, Morgan Stanley increased their price target on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, RBC Bearings presently has a consensus rating of “Moderate Buy” and an average price target of $584.00.

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.