Inceptionr LLC Makes New Investment in RBC Bearings Incorporated $RBC

Inceptionr LLC purchased a new position in shares of RBC Bearings Incorporated (NYSE:RBC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,675 shares of the industrial products company’s stock, valued at approximately $1,200,000.

A number of other institutional investors also recently bought and sold shares of the business. Advisors Asset Management Inc. acquired a new stake in shares of RBC Bearings during the first quarter worth about $26,000. SBI Securities Co. Ltd. increased its position in shares of RBC Bearings by 106.5% during 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 increased its position 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of RBC Bearings during the fourth quarter worth about $35,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of RBC Bearings by 123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 53 shares in the last quarter.

Wall Street Analyst Weigh In

RBC has been the topic of a number of research analyst reports. Wall Street Zen upgraded RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. KeyCorp lifted their target price on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Weiss Ratings upgraded RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Finally, Truist Financial reiterated 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. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, RBC Bearings has a consensus rating of “Moderate Buy” and a consensus target price of $584.00.

Insider Transactions at RBC Bearings

In related news, Director Edward Stewart sold 600 shares of the business’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 owned 21,337 shares in the company, valued at $12,649,213.71. The trade was a 2.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.90% of the stock is owned by company insiders.

RBC Bearings Stock Performance

Shares of RBC stock opened at $578.59 on Thursday. The stock has a market capitalization of $18.31 billion, a PE ratio of 63.65, a price-to-earnings-growth ratio of 3.42 and a beta of 1.42. RBC Bearings Incorporated has a 52-week low of $363.05 and a 52-week high of $632.00. The stock’s 50-day moving average price is $583.76 and its 200 day moving average price is $531.84. 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 issued 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 for the quarter, compared to analysts’ expectations of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.83 EPS. As a group, equities research analysts forecast that RBC Bearings Incorporated will post 13.58 EPS for the current 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.