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

Bradley Foster & Sargent Inc. CT reduced its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 10.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,049 shares of the industrial products company’s stock after selling 14,587 shares during the quarter. RBC Bearings comprises 1.0% of Bradley Foster & Sargent Inc. CT’s portfolio, making the stock its 26th biggest position. Bradley Foster & Sargent Inc. CT’s holdings in RBC Bearings were worth $65,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of RBC. Advisors Asset Management Inc. acquired a new stake in shares of RBC Bearings in the 1st quarter valued at approximately $26,000. SBI Securities Co. Ltd. boosted 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 worth $29,000 after acquiring an additional 33 shares during the last quarter. Larson Financial Group LLC grew its holdings 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 during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in RBC Bearings during the fourth quarter valued at approximately $35,000. Finally, EverSource Wealth Advisors LLC increased its stake in 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 purchasing an additional 53 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Morgan Stanley lifted their price target 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. 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. Zacks Research downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Weiss Ratings raised RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $584.00.

RBC Bearings Stock Performance

Shares of RBC opened at $594.57 on Friday. The firm has a market cap 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 twelve month low of $364.50 and a twelve month high of $667.69. 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’s 50 day moving average price is $597.34 and its two-hundred day moving average price is $567.29.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.31. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. The company had revenue of $518.00 million during the quarter, compared to the consensus estimate of $505.90 million. During the same quarter in the prior year, the firm earned $2.83 earnings per share. The firm’s revenue was up 18.3% compared to the same quarter last year. On average, analysts forecast that RBC Bearings Incorporated will post 13.66 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Dolores J. Ennico sold 600 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $636.11, for a total value of $381,666.00. Following the sale, the director directly owned 7,254 shares in the company, 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 is available at the SEC website. Also, Director Edward Stewart sold 600 shares of the company’s stock in a transaction dated 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 $12,649,213.71. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,425 shares of company stock valued at $885,400. Company insiders own 1.90% of the company’s stock.

RBC Bearings Company 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.