B. Metzler seel. Sohn & Co. Holding AG Purchases Shares of 10,465 RBC Bearings Incorporated (NYSE:RBC)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of RBC Bearings Incorporated (NYSE:RBC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,465 shares of the industrial products company’s stock, valued at approximately $3,133,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. increased its position in shares of RBC Bearings by 416.7% during the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. DT Investment Partners LLC acquired a new stake in shares of RBC Bearings during the second quarter worth approximately $35,000. Opal Wealth Advisors LLC bought a new position in shares of RBC Bearings in the second quarter valued at approximately $41,000. Canada Pension Plan Investment Board acquired a new position in shares of RBC Bearings in the 2nd quarter worth approximately $54,000. Finally, Strategic Financial Concepts LLC bought a new stake in RBC Bearings during the 2nd quarter worth approximately $68,000.

Insider Buying and Selling

In related news, CEO Michael J. Hartnett sold 19,283 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $289.42, for a total value of $5,580,885.86. Following the sale, the chief executive officer now directly owns 317,814 shares in the company, valued at $91,981,727.88. This trade represents a 5.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Richard J. Edwards sold 4,200 shares of the business’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 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 25.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,327 shares of company stock valued at $11,068,921 over the last ninety days. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial lifted their price objective on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $303.60.

RBC Bearings Stock Up 0.6 %

NYSE:RBC opened at $324.43 on Thursday. The stock’s fifty day moving average price is $295.97 and its two-hundred day moving average price is $287.44. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 47.36, a P/E/G ratio of 3.59 and a beta of 1.51. RBC Bearings Incorporated has a 52-week low of $239.23 and a 52-week high of $328.39. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.01). The firm had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $2.07 EPS. On average, analysts anticipate that RBC Bearings Incorporated will post 8.94 EPS for the current year.

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.