Golden State Wealth Management LLC Purchases 136 Shares of RBC Bearings Incorporated (NYSE:RBC)

Golden State Wealth Management LLC boosted its position in RBC Bearings Incorporated (NYSE:RBC) by 107.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 263 shares of the industrial products company’s stock after purchasing an additional 136 shares during the quarter. Golden State Wealth Management LLC’s holdings in RBC Bearings were worth $85,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Torray Investment Partners LLC boosted its stake in RBC Bearings by 0.3% in the 4th quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock valued at $2,533,000 after purchasing an additional 28 shares during the period. 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 valued at $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 valued at $213,000 after purchasing an additional 43 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 valued at $228,000 after purchasing an additional 47 shares during the period. Finally, Norden Group LLC boosted its stake in RBC Bearings by 6.7% in the 4th quarter. Norden Group LLC now owns 780 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 49 shares during the period.

RBC Bearings Stock Performance

NYSE:RBC opened at $384.93 on Tuesday. The stock has a fifty day moving average price of $362.02 and a 200-day moving average price of $341.09. The company has a market cap of $12.09 billion, a price-to-earnings ratio of 50.19, a PEG ratio of 3.89 and a beta of 1.66. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.18 and a current ratio of 3.26. RBC Bearings Incorporated has a fifty-two week low of $260.53 and a fifty-two week high of $393.51.

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

Insiders Place Their Bets

In other news, COO Daniel A. Bergeron sold 31,282 shares of the business’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the completion of the transaction, the chief operating officer owned 111,134 shares of the company’s stock, valued at approximately $42,262,037.52. The trade was a 21.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 26,725 shares of the business’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $381.09, for a total value of $10,184,630.25. Following the transaction, the chief executive officer directly owned 316,853 shares of the company’s stock, valued at $120,749,509.77. This trade represents a 7.78% 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 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

RBC Bearings Company 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.