RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its position in RBC Bearings Incorporated (NYSE:RBC) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,126 shares of the industrial products company’s stock after selling 149 shares during the quarter. Amalgamated Bank owned approximately 0.07% of RBC Bearings worth $5,449,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Portside Wealth Group LLC grew its stake in shares of RBC Bearings by 4.8% during the third quarter. Portside Wealth Group LLC now owns 1,104 shares of the industrial products company’s stock worth $258,000 after purchasing an additional 51 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of RBC Bearings by 14.3% in the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 53 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of RBC Bearings by 2.1% during the 4th quarter. Bleakley Financial Group LLC now owns 3,197 shares of the industrial products company’s stock worth $911,000 after acquiring an additional 66 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in RBC Bearings by 0.6% during the third quarter. Treasurer of the State of North Carolina now owns 12,420 shares of the industrial products company’s stock worth $2,908,000 after purchasing an additional 70 shares during the last quarter. Finally, SkyView Investment Advisors LLC boosted its holdings in RBC Bearings by 2.2% in the third quarter. SkyView Investment Advisors LLC now owns 3,249 shares of the industrial products company’s stock valued at $761,000 after purchasing an additional 71 shares in the last quarter.

Insider Buying and Selling at RBC Bearings

In related news, COO Daniel A. Bergeron sold 15,000 shares of RBC Bearings stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $267.22, for a total transaction of $4,008,300.00. Following the completion of the transaction, the chief operating officer now directly owns 121,935 shares in the company, valued at approximately $32,583,470.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

RBC has been the topic of a number of research analyst reports. Citigroup raised their price objective on shares of RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Truist Financial upped their price objective on shares of RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $275.86.

RBC Bearings Price Performance

Shares of NYSE RBC opened at $258.59 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.28 and a quick ratio of 1.12. The company has a market cap of $7.29 billion, a PE ratio of 43.24, a P/E/G ratio of 4.76 and a beta of 1.46. The stock has a fifty day moving average price of $260.16 and a 200 day moving average price of $259.41. RBC Bearings Incorporated has a 1-year low of $195.18 and a 1-year high of $288.16.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.08). RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. The firm had revenue of $373.91 million for the quarter, compared to analysts’ expectations of $376.61 million. Sell-side analysts forecast that RBC Bearings Incorporated will post 8.02 EPS for the current year.

RBC Bearings Company Profile

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.