MQS Management LLC Sells 219 Shares of RBC Bearings Incorporated $RBC

MQS Management LLC trimmed its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 19.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 892 shares of the industrial products company’s stock after selling 219 shares during the quarter. MQS Management LLC’s holdings in RBC Bearings were worth $343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. AlphaQuest LLC bought a new stake in shares of RBC Bearings during the second quarter worth $83,000. R Squared Ltd bought a new stake in shares of RBC Bearings in the second quarter valued at about $208,000. Ethic Inc. raised its holdings in shares of RBC Bearings by 29.3% in the second quarter. Ethic Inc. now owns 1,733 shares of the industrial products company’s stock valued at $661,000 after acquiring an additional 393 shares in the last quarter. Cookson Peirce & Co. Inc. raised its holdings in shares of RBC Bearings by 8.2% in the second quarter. Cookson Peirce & Co. Inc. now owns 2,481 shares of the industrial products company’s stock valued at $955,000 after acquiring an additional 187 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of RBC Bearings by 3.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 31,020 shares of the industrial products company’s stock valued at $11,936,000 after acquiring an additional 1,002 shares in the last quarter.

RBC Bearings Price Performance

Shares of NYSE RBC opened at $412.10 on Monday. The business’s 50 day moving average price is $385.64 and its 200 day moving average price is $374.97. The firm has a market cap of $13.01 billion, a P/E ratio of 51.90, a P/E/G ratio of 3.18 and a beta of 1.71. RBC Bearings Incorporated has a 52 week low of $272.50 and a 52 week high of $416.33. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29.

RBC Bearings (NYSE:RBC) last issued its earnings results on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. The firm had revenue of $156.21 million for the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%. On average, sell-side analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Insider Buying and Selling

In other RBC Bearings news, COO Daniel A. Bergeron sold 48,743 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $402.75, for a total value of $19,631,243.25. Following the sale, the chief operating officer owned 111,134 shares in the company, valued at approximately $44,759,218.50. This represents a 30.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP John J. Feeney sold 105 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $382.83, for a total value of $40,197.15. Following the completion of the sale, the vice president owned 2,666 shares in the company, valued at approximately $1,020,624.78. This represents a 3.79% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on RBC shares. The Goldman Sachs Group lifted their price objective on RBC Bearings from $375.00 to $416.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of RBC Bearings in a research note on Wednesday, October 8th. Truist Financial lifted their target price on RBC Bearings from $431.00 to $455.00 and gave the company a “buy” rating in a research note on Monday, August 4th. Zacks Research lowered RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, KeyCorp lifted their target price on RBC Bearings from $405.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $429.00.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems 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.