OneDigital Investment Advisors LLC Has $1.20 Million Stake in RBC Bearings Incorporated (NYSE:RBC)

OneDigital Investment Advisors LLC increased its position in RBC Bearings Incorporated (NYSE:RBC) by 6.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,742 shares of the industrial products company’s stock after purchasing an additional 231 shares during the period. OneDigital Investment Advisors LLC’s holdings in RBC Bearings were worth $1,204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Townsquare Capital LLC boosted its stake in RBC Bearings by 0.6% in the 4th quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company’s stock worth $1,694,000 after purchasing an additional 36 shares during the period. Rafferty Asset Management LLC boosted its stake in RBC Bearings by 6.4% in the 4th quarter. Rafferty Asset Management LLC now owns 713 shares of the industrial products company’s stock worth $213,000 after purchasing an additional 43 shares during the period. First Bank & Trust boosted its stake in RBC Bearings by 2.1% in the 1st quarter. First Bank & Trust now owns 2,165 shares of the industrial products company’s stock worth $697,000 after purchasing an additional 44 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in RBC Bearings by 6.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 762 shares of the industrial products company’s stock worth $228,000 after purchasing an additional 47 shares during the period. Finally, Deutsche Bank AG boosted its stake in RBC Bearings by 2.9% in the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company’s stock worth $529,000 after purchasing an additional 49 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Truist Financial lifted their target price on shares of RBC Bearings from $405.00 to $431.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $394.00.

Insider Buying and Selling at RBC Bearings

In related news, Director Michael H. Ambrose sold 595 shares of RBC Bearings stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $367.32, for a total value of $218,555.40. Following the transaction, the director owned 6,985 shares in the company, valued at $2,565,730.20. This trade represents a 7.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Hartnett sold 9,000 shares of RBC Bearings stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $371.37, for a total transaction of $3,342,330.00. Following the completion of the transaction, the chief executive officer owned 302,853 shares in the company, valued at $112,470,518.61. This trade represents a 2.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,973 shares of company stock worth $29,186,872 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Trading Down 0.5%

Shares of NYSE:RBC opened at $386.74 on Tuesday. The firm has a fifty day moving average of $368.06 and a two-hundred day moving average of $343.56. The firm has a market capitalization of $12.15 billion, a P/E ratio of 50.42, a price-to-earnings-growth ratio of 3.97 and a beta of 1.65. RBC Bearings Incorporated has a 12-month low of $260.53 and a 12-month high of $393.51. The company has a quick ratio of 1.18, a current ratio of 3.26 and a debt-to-equity ratio of 0.30.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.13. RBC Bearings had a net margin of 15.05% and a return on equity of 10.08%. The business had revenue of $437.70 million during the quarter, compared to analyst estimates of $440.26 million. During the same quarter in the previous year, the business earned $2.47 EPS. RBC Bearings’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

RBC Bearings Profile

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.