Cwm LLC Cuts Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Cwm LLC reduced its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,655 shares of the industrial products company’s stock after selling 579 shares during the quarter. Cwm LLC’s holdings in RBC Bearings were worth $2,750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RBC. Global Retirement Partners LLC grew its position in 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 buying an additional 53 shares during the period. SG Americas Securities LLC grew its position in RBC Bearings by 123.8% during the third quarter. SG Americas Securities LLC now owns 3,059 shares of the industrial products company’s stock worth $716,000 after buying an additional 1,692 shares during the period. State of Alaska Department of Revenue acquired a new position in RBC Bearings during the third quarter worth about $807,000. DAVENPORT & Co LLC grew its position in shares of RBC Bearings by 0.9% in the third quarter. DAVENPORT & Co LLC now owns 7,018 shares of the industrial products company’s stock valued at $1,643,000 after purchasing an additional 63 shares during the last quarter. Finally, Oak Thistle LLC acquired a new stake in shares of RBC Bearings in the third quarter valued at approximately $721,000.

Analyst Ratings Changes

Several research firms have recently commented on RBC. Citigroup increased their price target on shares of RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Truist Financial increased their price target on shares of 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $275.86.

RBC Bearings Stock Down 0.4 %

Shares of NYSE RBC opened at $244.90 on Thursday. RBC Bearings Incorporated has a 1 year low of $195.18 and a 1 year high of $288.16. The firm’s 50 day moving average price is $264.26 and its 200 day moving average price is $258.69. The firm has a market cap of $6.90 billion, a P/E ratio of 40.95, a price-to-earnings-growth ratio of 4.68 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.12 and a current ratio of 3.28.

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

Insider Activity

In related news, COO Daniel A. Bergeron sold 15,000 shares of the stock in a transaction 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 transaction, the chief operating officer now directly owns 121,935 shares of the company’s stock, valued at approximately $32,583,470.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.90% of the company’s stock.

RBC Bearings Profile

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.