RBC Bearings Incorporated $RBC Holdings Lowered by Inceptionr LLC

Inceptionr LLC decreased its position in RBC Bearings Incorporated (NYSE:RBC) by 60.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,067 shares of the industrial products company’s stock after selling 1,608 shares during the quarter. Inceptionr LLC’s holdings in RBC Bearings were worth $580,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Lido Advisors LLC raised its position in RBC Bearings by 54.9% during the first quarter. Lido Advisors LLC now owns 1,002 shares of the industrial products company’s stock valued at $544,000 after buying an additional 355 shares during the period. Walleye Capital LLC lifted its position in shares of RBC Bearings by 70.9% in the first quarter. Walleye Capital LLC now owns 53,760 shares of the industrial products company’s stock worth $29,198,000 after purchasing an additional 22,311 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of RBC Bearings by 27.5% during the first quarter. First Trust Advisors LP now owns 409,700 shares of the industrial products company’s stock worth $222,516,000 after purchasing an additional 88,468 shares during the period. Marin Bay Wealth Advisors LLC acquired a new stake in shares of RBC Bearings during the 1st quarter valued at $218,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of RBC Bearings by 14.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,374 shares of the industrial products company’s stock valued at $3,462,000 after acquiring an additional 818 shares in the last quarter.

Insider Buying and Selling

In other news, Director Dolores J. Ennico sold 600 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total value of $381,666.00. Following the sale, the director owned 7,254 shares of the company’s stock, valued at $4,614,341.94. The trade was a 7.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward Stewart sold 600 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total transaction of $355,698.00. Following the completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,425 shares of company stock worth $885,400. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

RBC has been the topic of a number of research reports. Morgan Stanley increased their price objective on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Weiss Ratings upgraded shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 15th. Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Truist Financial reissued a “buy” rating and set a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Finally, Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Six equities 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $584.00.

RBC Bearings Stock Down 0.1%

Shares of RBC opened at $594.57 on Friday. The company has a market capitalization of $18.81 billion, a P/E ratio of 65.41, a PEG ratio of 3.39 and a beta of 1.40. RBC Bearings Incorporated has a one year low of $364.50 and a one year high of $667.69. The business’s 50 day simple moving average is $597.34 and its 200-day simple moving average is $567.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 0.78.

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

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.