Whittier Trust Co. of Nevada Inc. Has $8.25 Million Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Whittier Trust Co. of Nevada Inc. raised its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,570 shares of the industrial products company’s stock after purchasing an additional 1,046 shares during the period. Whittier Trust Co. of Nevada Inc. owned 0.10% of RBC Bearings worth $8,254,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. UMB Bank n.a. lifted its position in shares of RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after buying an additional 75 shares during the last quarter. DT Investment Partners LLC acquired a new stake in RBC Bearings in the 2nd quarter worth approximately $35,000. Opal Wealth Advisors LLC bought a new stake in RBC Bearings during the second quarter worth approximately $41,000. Benjamin F. Edwards & Company Inc. grew its holdings in RBC Bearings by 570.8% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 161 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 137 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of RBC Bearings in the second quarter valued at approximately $54,000.

Analyst Ratings Changes

Several research firms recently issued reports on RBC. Truist Financial decreased their price objective on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Raymond James began coverage on shares of RBC Bearings in a report on Friday, June 28th. They set a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $287.67.

RBC Bearings Trading Down 0.8 %

RBC traded down $2.38 during mid-day trading on Monday, reaching $285.72. The stock had a trading volume of 58,009 shares, compared to its average volume of 143,550. The firm’s fifty day simple moving average is $289.95 and its two-hundred day simple moving average is $279.67. The stock has a market capitalization of $8.26 billion, a P/E ratio of 44.69, a P/E/G ratio of 3.21 and a beta of 1.51. RBC Bearings Incorporated has a 52 week low of $214.14 and a 52 week high of $309.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 3.01.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.33. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. The business had revenue of $406.30 million for the quarter, compared to analyst estimates of $416.65 million. During the same period last year, the company earned $1.98 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that RBC Bearings Incorporated will post 8.95 EPS for the current year.

Insider Activity

In other news, VP Richard J. Edwards sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total value of $1,229,214.00. Following the completion of the transaction, the vice president now owns 12,539 shares in the company, valued at $3,669,789.13. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Michael J. Hartnett sold 503 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the transaction, the chief executive officer now owns 322,588 shares of the company’s stock, valued at approximately $93,227,932. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the transaction, the vice president now owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,327 shares of company stock worth $11,900,641 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

About RBC Bearings

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.