Sei Investments Co. Sells 2,139 Shares of RBC Bearings Incorporated (NYSE:RBC)

Sei Investments Co. trimmed its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 132,246 shares of the industrial products company's stock after selling 2,139 shares during the quarter. Sei Investments Co. owned about 0.46% of RBC Bearings worth $35,678,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Bridges Investment Management Inc. purchased a new stake in RBC Bearings during the 2nd quarter valued at about $354,000. Canada Pension Plan Investment Board purchased a new stake in shares of RBC Bearings during the 2nd quarter valued at about $54,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of RBC Bearings by 80.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company's stock valued at $78,000 after acquiring an additional 129 shares during the last quarter. Seven Eight Capital LP boosted its holdings in shares of RBC Bearings by 57.2% during the 2nd quarter. Seven Eight Capital LP now owns 3,930 shares of the industrial products company's stock valued at $1,060,000 after acquiring an additional 1,430 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of RBC Bearings during the 2nd quarter valued at about $607,000.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Raymond James assumed coverage on shares of RBC Bearings in a report on Friday, June 28th. They set a "market perform" rating on the stock. The Goldman Sachs Group raised their price target on shares of RBC Bearings from $245.00 to $276.00 and gave the company a "neutral" rating in a report on Tuesday, May 28th. William Blair assumed coverage on shares of RBC Bearings in a report on Wednesday, May 29th. They set an "outperform" rating on the stock. Finally, Truist Financial dropped their price target on shares of RBC Bearings from $328.00 to $315.00 and set a "buy" rating on the stock in a report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, RBC Bearings currently has an average rating of "Moderate Buy" and a consensus target price of $287.67.

RBC Bearings Stock Performance

Shares of RBC traded up $4.88 on Tuesday, reaching $302.79. The company's stock had a trading volume of 124,077 shares, compared to its average volume of 141,567. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.01 and a quick ratio of 1.09. The stock has a market capitalization of $8.76 billion, a P/E ratio of 47.31, a PEG ratio of 3.49 and a beta of 1.51. The stock's 50 day simple moving average is $288.20 and its two-hundred day simple moving average is $276.55. RBC Bearings Incorporated has a 12-month low of $214.14 and a 12-month high of $309.01.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.33. The company had revenue of $406.30 million for the quarter, compared to the consensus estimate of $416.65 million. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. The firm's revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.98 earnings per share. Research analysts forecast that RBC Bearings Incorporated will post 8.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RBC Bearings news, CEO Michael J. Hartnett sold 503 shares of the firm's 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 sale, the chief executive officer now owns 322,588 shares in the company, valued at approximately $93,227,932. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other RBC Bearings news, CEO Michael J. Hartnett sold 503 shares of the firm's 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 sale, the chief executive officer now owns 322,588 shares in the company, valued at approximately $93,227,932. The transaction was disclosed in a document filed with the SEC, which is available 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 owns 12,539 shares in the company, valued at approximately $3,669,789.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,327 shares of company stock worth $11,900,641. Company insiders own 2.90% of the company's stock.

RBC Bearings Company 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.