VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 4,050 RBC Bearings Incorporated $RBC

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in RBC Bearings Incorporated (NYSE:RBC) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 4,050 shares of the industrial products company’s stock, valued at approximately $2,608,000.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new stake in shares of RBC Bearings during the first quarter worth approximately $26,000. Western Wealth Management LLC purchased a new position in RBC Bearings in the 1st quarter valued at $27,000. 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 purchasing an additional 33 shares during the last quarter. Larson Financial Group LLC boosted its stake in 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 last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings 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 buying an additional 53 shares in the last quarter.

RBC Bearings Trading Down 1.9%

Shares of RBC stock opened at $476.94 on Friday. The company’s 50-day moving average price is $548.90 and its 200-day moving average price is $571.24. The company has a current ratio of 2.53, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21. The stock has a market cap of $15.10 billion, a price-to-earnings ratio of 47.13, a PEG ratio of 2.60 and a beta of 1.39. RBC Bearings Incorporated has a twelve month low of $364.50 and a twelve month high of $667.69.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Friday, July 31st. The industrial products company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.42 by $0.46. RBC Bearings had a net margin of 16.40% and a return on equity of 12.06%. The firm had revenue of $519.50 million during the quarter, compared to analysts’ expectations of $508.92 million. During the same period last year, the business earned $2.84 earnings per share. RBC Bearings’s revenue was up 19.2% compared to the same quarter last year. As a group, equities analysts predict that RBC Bearings Incorporated will post 14.12 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada set a $645.00 target price on shares of RBC Bearings in a research report on Monday, August 3rd. Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Truist Financial increased their price objective on shares of RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Weiss Ratings downgraded shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $686.00 target price on shares of RBC Bearings in a report on Tuesday, August 4th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $623.00.

Insider Buying and Selling

In other news, Director Dolores Ennico sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total transaction of $381,666.00. Following the completion of the sale, the director owned 7,254 shares in the company, valued at $4,614,341.94. This trade represents a 7.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Feeney sold 225 shares of RBC Bearings stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total transaction of $148,036.50. Following the sale, the vice president directly owned 2,378 shares in the company, valued at approximately $1,564,581.32. The trade was a 8.64% decrease in their position. The SEC filing for this sale provides additional information. 1.80% of the stock is owned by company insiders.

About RBC Bearings

RBC Bearings Incorporated is a manufacturer of highly engineered bearings and motion-control components. The company designs and produces products used to reduce friction, support rotating or moving equipment, and manage loads in demanding operating environments. Its offerings include plain bearings, roller bearings, ball bearings, spherical bearings, rod ends, thrust bearings, and specialty bearing assemblies.

The company supplies components for aerospace and defense applications, industrial machinery, transportation equipment, construction and mining systems, medical devices, and energy-related equipment.