Blog

Oct 14, 2024

RBC Bearings Incorporated (NYSE:RBC) Shares Purchased by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC boosted its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 54.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities

Douglas Lane & Associates LLC boosted its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 54.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,073 shares of the industrial products company's stock after buying an additional 44,211 shares during the period. Douglas Lane & Associates LLC owned 0.44% of RBC Bearings worth $37,744,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in RBC. Teachers Retirement System of The State of Kentucky boosted its holdings in RBC Bearings by 54.9% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 8,985 shares of the industrial products company's stock worth $2,560,000 after buying an additional 3,185 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of RBC Bearings by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,711,824 shares of the industrial products company's stock worth $772,572,000 after buying an additional 17,286 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of RBC Bearings by 0.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,778 shares of the industrial products company's stock worth $1,646,000 after purchasing an additional 50 shares during the period. HighPoint Advisor Group LLC bought a new stake in shares of RBC Bearings in the fourth quarter valued at approximately $535,000. Finally, Confluence Investment Management LLC acquired a new stake in RBC Bearings in the 1st quarter worth $4,455,000.

RBC has been the topic of several analyst reports. Raymond James started coverage on shares of RBC Bearings in a report on Friday, June 28th. They issued a "market perform" rating on the stock. Truist Financial dropped their price objective on RBC Bearings from $328.00 to $315.00 and set a "buy" rating for the company in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $287.67.

View Our Latest Research Report on RBC Bearings

Shares of NYSE RBC traded up $2.22 during trading on Friday, hitting $280.88. 156,751 shares of the company traded hands, compared to its average volume of 143,847. The business's fifty day moving average is $288.81 and its 200 day moving average is $278.98. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 43.89, a P/E/G ratio of 3.22 and a beta of 1.51. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 3.01. RBC Bearings Incorporated has a fifty-two week low of $214.14 and a fifty-two week high of $309.01.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its earnings results on Friday, August 2nd. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.33. The firm had revenue of $406.30 million during the quarter, compared to analyst estimates of $416.65 million. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. The business's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.98 EPS. Equities research analysts predict that RBC Bearings Incorporated will post 8.95 earnings per share for the current fiscal year.

In related news, Director Edward Stewart sold 3,000 shares of the business's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $277.24, for a total transaction of $831,720.00. Following the completion of the transaction, the director now directly owns 20,461 shares in the company, valued at $5,672,607.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael J. Hartnett sold 503 shares of the firm's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the sale, the chief executive officer now owns 322,588 shares of the company's stock, valued at $93,227,932. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward Stewart sold 3,000 shares of the business's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $277.24, for a total transaction of $831,720.00. Following the sale, the director now owns 20,461 shares in the company, valued at approximately $5,672,607.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,327 shares of company stock worth $11,900,641. 2.90% of the stock is owned by corporate insiders.

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.

Before you consider RBC Bearings, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RBC Bearings wasn't on the list.

While RBC Bearings currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Unlock your free copy of MarketBeat's comprehensive guide to pot stock investing and discover which cannabis companies are poised for growth. Plus, you'll get exclusive access to our daily newsletter with expert stock recommendations from Wall Street's top analysts.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools.