1,193 Shares in RBC Bearings Incorporated $RBC Bought by Bull Harbor Capital LLC

Bull Harbor Capital LLC acquired a new position in shares of RBC Bearings Incorporated (NYSE:RBC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,193 shares of the industrial products company’s stock, valued at approximately $648,000.

Other large investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. raised its position in shares of RBC Bearings by 106.5% in 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 in the last quarter. Millstone Evans Group LLC boosted its position in shares of RBC Bearings by 45.3% during the 1st quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 24 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in RBC Bearings in the fourth quarter valued at approximately $35,000. Advisors Asset Management Inc. bought a new position in RBC Bearings in the first quarter valued at approximately $26,000. Finally, Larson Financial Group LLC raised 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 purchasing an additional 49 shares in the last quarter.

Insider Buying and Selling

In other news, Director Dolores J. Ennico sold 600 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total transaction of $381,666.00. Following the completion of the sale, the director directly owned 7,254 shares in the company, valued at $4,614,341.94. This represents a 7.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward Stewart sold 600 shares of RBC Bearings stock in a transaction 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 transaction, the director directly owned 21,337 shares of the company’s stock, valued at $12,649,213.71. This represents a 2.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,425 shares of company stock valued at $885,400 in the last three months. Insiders own 1.90% of the company’s stock.

RBC Bearings Stock Up 2.4%

NYSE:RBC opened at $563.65 on Friday. The firm’s 50 day simple moving average is $597.82 and its 200 day simple moving average is $570.58. 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 Incorporated has a one year low of $364.50 and a one year high of $667.69. The company has a market cap of $17.85 billion, a PE ratio of 62.01, a P/E/G ratio of 3.14 and a beta of 1.40.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.31. The firm had revenue of $518.00 million during the quarter, compared to analysts’ expectations of $505.90 million. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. The company’s revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.83 EPS. On average, research analysts anticipate 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 analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. Wall Street Zen cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Morgan Stanley upped their price objective on shares of RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Finally, Weiss Ratings raised shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 15th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $584.00.

About RBC Bearings

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.