Visualize Group LP Takes $27.94 Million Position in RBC Bearings Incorporated $RBC

Visualize Group LP acquired a new position in shares of RBC Bearings Incorporated (NYSE:RBC) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 51,447 shares of the industrial products company’s stock, valued at approximately $27,942,000. RBC Bearings makes up 11.5% of Visualize Group LP’s holdings, making the stock its 2nd largest position. Visualize Group LP owned 0.16% of RBC Bearings at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in RBC Bearings during the first quarter worth about $26,000. SBI Securities Co. Ltd. grew its holdings in shares of 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 purchasing an additional 33 shares during the period. Larson Financial Group LLC grew its holdings in shares of RBC Bearings by 148.5% during the 3rd 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 during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of RBC Bearings during the 4th quarter worth about $35,000. Finally, EverSource Wealth Advisors LLC raised its holdings in RBC Bearings by 123.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after buying an additional 53 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RBC shares. Morgan Stanley boosted their price target on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Truist Financial reaffirmed a “buy” rating and set a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Wall Street Zen downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Zacks Research lowered RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Finally, Weiss Ratings upgraded RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 15th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, RBC Bearings presently has an average rating of “Moderate Buy” and a consensus price target of $584.00.

Insider Buying and Selling at RBC Bearings

In related news, Director Edward Stewart sold 600 shares of the business’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 owned 21,337 shares in the company, valued at approximately $12,649,213.71. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP John J. Feeney sold 225 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total value of $148,036.50. Following the completion of the transaction, the vice president directly owned 2,378 shares in the company, valued at $1,564,581.32. This trade represents a 8.64% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,425 shares of company stock valued at $885,400. Insiders own 1.90% of the company’s stock.

RBC Bearings Stock Performance

Shares of RBC opened at $594.57 on Monday. RBC Bearings Incorporated has a 1 year low of $364.50 and a 1 year high of $667.69. The stock has a market capitalization of $18.81 billion, a PE ratio of 65.41, a PEG ratio of 3.39 and a beta of 1.40. 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 stock has a 50-day simple moving average of $597.34 and a 200-day simple moving average of $568.03.

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

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.