Zurcher Kantonalbank Zurich Cantonalbank Buys 446 Shares of RBC Bearings Incorporated (NYSE:RBC)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in RBC Bearings Incorporated (NYSE:RBC) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,261 shares of the industrial products company’s stock after acquiring an additional 446 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RBC Bearings were worth $1,499,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. LWM Advisory Services LLC bought a new position in shares of RBC Bearings in the third quarter worth $31,000. Operose Advisors LLC purchased a new stake in shares of RBC Bearings in the third quarter worth $45,000. RiverPark Advisors LLC purchased a new stake in shares of RBC Bearings in the third quarter worth $69,000. Global Retirement Partners LLC raised its position in shares of RBC Bearings by 16.1% in 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 in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of RBC Bearings by 14.3% in the third quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company’s stock worth $99,000 after buying an additional 53 shares in the last quarter.

Insider Activity

In other news, COO Daniel A. Bergeron sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $267.22, for a total transaction 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 $32,583,470.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RBC. Citigroup increased their price objective on RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Truist Financial increased their price objective on RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $275.86.

RBC Bearings Trading Down 0.3 %

NYSE RBC opened at $244.25 on Friday. The stock’s 50-day simple moving average is $263.73 and its two-hundred day simple moving average is $258.59. RBC Bearings Incorporated has a twelve month low of $195.18 and a twelve month high of $288.16. The company has a quick ratio of 1.12, a current ratio of 3.28 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 4.66 and a beta of 1.45.

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

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.