Whittier Trust Co. Has $16.46 Million Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Whittier Trust Co. increased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,969 shares of the industrial products company’s stock after purchasing an additional 2,260 shares during the period. Whittier Trust Co. owned approximately 0.19% of RBC Bearings worth $16,456,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. UMB Bank n.a. grew its stake in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 75 shares during the period. DT Investment Partners LLC acquired a new stake in RBC Bearings in the second quarter worth about $35,000. Opal Wealth Advisors LLC acquired a new position in RBC Bearings in the second quarter valued at approximately $41,000. Benjamin F. Edwards & Company Inc. grew its holdings in RBC Bearings by 570.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 161 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 137 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of RBC Bearings in the 2nd quarter valued at $54,000.

Analyst Ratings Changes

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

RBC Bearings Stock Performance

RBC stock traded down $2.07 during midday trading on Monday, reaching $286.03. 54,818 shares of the company were exchanged, compared to its average volume of 143,550. RBC Bearings Incorporated has a one year low of $214.14 and a one year high of $309.01. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 45.02, a price-to-earnings-growth ratio of 3.21 and a beta of 1.51. The business has a 50-day moving average price of $289.95 and a two-hundred day moving average price of $279.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.01 and a quick ratio of 1.09.

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

Insider Activity at RBC Bearings

In related news, CEO Michael J. Hartnett sold 503 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total transaction of $145,367.00. Following the sale, the chief executive officer now owns 322,588 shares in the company, valued at $93,227,932. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other RBC Bearings news, CEO Michael J. Hartnett sold 503 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total transaction of $145,367.00. Following the completion of the sale, the chief executive officer now owns 322,588 shares of the company’s stock, valued at approximately $93,227,932. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,327 shares of company stock valued at $11,900,641 over the last quarter. 2.90% of the stock is owned by corporate insiders.

RBC Bearings 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.