Cerity Partners LLC Purchases Shares of 1,438 RBC Bearings Incorporated (NYSE:RBC)

Cerity Partners LLC acquired a new position in RBC Bearings Incorporated (NYSE:RBC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,438 shares of the industrial products company’s stock, valued at approximately $410,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RBC. LWM Advisory Services LLC acquired a new stake in shares of RBC Bearings during the third quarter worth about $31,000. Operose Advisors LLC acquired a new stake in shares of RBC Bearings during the third quarter worth about $45,000. RiverPark Advisors LLC acquired a new stake in shares of RBC Bearings during the third quarter worth about $69,000. Global Retirement Partners LLC lifted its holdings in shares of RBC Bearings by 16.1% during the third quarter. Global Retirement Partners LLC now owns 383 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 53 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of RBC Bearings by 14.3% during the third quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 53 shares during the period.

RBC Bearings Stock Down 0.3 %

Shares of RBC stock opened at $244.25 on Friday. The stock has a 50 day moving average of $263.73 and a 200 day moving average of $258.59. The company has a current ratio of 3.28, a quick ratio of 1.12 and a debt-to-equity ratio of 0.47. The stock has a market cap of $6.88 billion, a P/E ratio of 40.84, a P/E/G ratio of 4.68 and a beta of 1.45. RBC Bearings Incorporated has a twelve month low of $195.18 and a twelve month high of $288.16.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on RBC shares. Citigroup lifted their target price on RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Truist Financial lifted their price target on RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $275.86.

Insider Activity

In other news, COO Daniel A. Bergeron sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $267.22, for a total value of $4,008,300.00. Following the completion of the sale, the chief operating officer now directly owns 121,935 shares in the company, valued at $32,583,470.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.90% of the company’s stock.

About RBC Bearings

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.