7,718 Shares in RBC Bearings Incorporated (NYSE:RBC) Bought by Russell Investments Group Ltd.
Russell Investments Group Ltd. purchased a new position in RBC Bearings Incorporated (NYSE:RBC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,718 shares of the industrial products company's stock, valued at approximately $1,796,000.
Several other large investors also recently bought and sold shares of the business. Great West Life Assurance Co. Can increased its position in RBC Bearings by 8.0% in the first quarter. Great West Life Assurance Co. Can now owns 1,456 shares of the industrial products company's stock worth $300,000 after purchasing an additional 108 shares during the last quarter. FMR LLC increased its position in RBC Bearings by 10.3% in the second quarter. FMR LLC now owns 1,191 shares of the industrial products company's stock worth $220,000 after purchasing an additional 111 shares during the last quarter. Signaturefd LLC bought a new stake in RBC Bearings in the first quarter worth $29,000. Private Trust Co. NA bought a new stake in RBC Bearings in the first quarter worth $39,000. Finally, Allworth Financial LP bought a new stake in RBC Bearings in the first quarter worth $44,000.
NYSE RBC opened at $220.96 on Monday. The company's 50-day moving average price is $219.54 and its 200-day moving average price is $221.52. The company has a current ratio of 2.96, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock has a market cap of $6.37 billion, a PE ratio of 41.15, a PEG ratio of 4.59 and a beta of 1.42. RBC Bearings Incorporated has a 12 month low of $195.18 and a 12 month high of $260.00.
RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings results on Friday, August 4th. The industrial products company reported $1.98 EPS for the quarter, topping analysts' consensus estimates of $1.87 by $0.11. The firm had revenue of $387.12 million for the quarter, compared to analysts' expectations of $390.72 million. RBC Bearings had a net margin of 11.93% and a return on equity of 9.51%. Equities research analysts forecast that RBC Bearings Incorporated will post 8.2 earnings per share for the current year.
In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $220.00, for a total transaction of $88,000.00. Following the transaction, the director now directly owns 6,800 shares in the company, valued at approximately $1,496,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by company insiders.
Several brokerages have recently weighed in on RBC. Truist Financial increased their target price on shares of RBC Bearings from $265.00 to $275.00 and gave the company a "buy" rating in a research note on Monday, August 7th. Wells Fargo & Company increased their target price on shares of RBC Bearings from $225.00 to $235.00 and gave the company an "equal weight" rating in a research note on Monday, August 7th. Alembic Global Advisors raised shares of RBC Bearings from a "neutral" rating to an "overweight" rating and set a $267.00 target price on the stock in a research note on Wednesday, August 9th. Royal Bank of Canada raised shares of RBC Bearings from a "neutral" rating to an "overweight" rating in a research note on Wednesday, August 9th. Finally, Morgan Stanley increased their target price on shares of RBC Bearings from $286.00 to $294.00 and gave the company an "overweight" rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $259.33.
Get Our Latest Stock Analysis on RBC
RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.
Want to see what other hedge funds are holding RBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RBC Bearings Incorporated (NYSE:RBC - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider RBC Bearings, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RBC Bearings wasn't on the list.
While RBC Bearings currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.
RBC BearingsWant to see what other hedge funds are holding RBC?(Ad)(Ad)