Callan Family Office LLC Increases Holdings in RBC Bearings Incorporated $RBC

Callan Family Office LLC increased its position in RBC Bearings Incorporated (NYSE:RBC) by 829.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 14,039 shares of the industrial products company’s stock after purchasing an additional 12,529 shares during the period. Callan Family Office LLC’s holdings in RBC Bearings were worth $5,402,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in RBC Bearings in the 1st quarter worth about $25,000. Advisors Asset Management Inc. purchased a new stake in RBC Bearings in the 1st quarter worth about $26,000. Golden State Wealth Management LLC increased its holdings in RBC Bearings by 107.1% in the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 136 shares during the last quarter. UMB Bank n.a. increased its holdings in RBC Bearings by 80.8% in the 1st quarter. UMB Bank n.a. now owns 311 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 139 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in RBC Bearings in the 1st quarter worth about $111,000.

RBC Bearings Stock Performance

Shares of RBC opened at $373.51 on Friday. The stock has a 50-day moving average price of $388.69 and a 200-day moving average price of $369.71. The company has a market cap of $11.79 billion, a PE ratio of 47.04, a price-to-earnings-growth ratio of 2.98 and a beta of 1.71. RBC Bearings Incorporated has a 12-month low of $272.50 and a 12-month high of $416.33. The company has a current ratio of 3.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.29.

RBC Bearings (NYSE:RBC) last released its earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. The company had revenue of $156.21 million during the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%. As a group, equities analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, COO Daniel A. Bergeron sold 48,743 shares of the business’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 completion of the sale, the chief operating officer owned 111,134 shares in the company, valued at $44,759,218.50. The trade was a 30.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John J. Feeney sold 105 shares of the business’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 of the company’s stock, valued at $1,020,624.78. The trade was a 3.79% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

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.