Whittier Trust Co. Acquires 2,260 Shares of RBC Bearings Incorporated (NYSE:RBC)

Whittier Trust Co. grew its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,969 shares of the industrial products company's stock after purchasing an additional 2,260 shares during the quarter. Whittier Trust Co. owned approximately 0.19% of RBC Bearings worth $16,456,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in RBC Bearings by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,711,824 shares of the industrial products company's stock worth $772,572,000 after acquiring an additional 17,286 shares during the period. Oak Thistle LLC bought a new position in RBC Bearings during the first quarter worth $231,000. State of Michigan Retirement System raised its stake in RBC Bearings by 1.4% during the 1st quarter. State of Michigan Retirement System now owns 7,100 shares of the industrial products company's stock valued at $1,919,000 after purchasing an additional 100 shares during the last quarter. Wasatch Advisors LP boosted its holdings in RBC Bearings by 1.6% in the 1st quarter. Wasatch Advisors LP now owns 1,787,938 shares of the industrial products company's stock valued at $483,369,000 after purchasing an additional 28,749 shares during the period. Finally, Norden Group LLC acquired a new stake in RBC Bearings in the 1st quarter worth $2,014,000.

RBC Bearings Price Performance

Shares of RBC traded down $1.76 during mid-day trading on Monday, reaching $286.34. The company had a trading volume of 103,191 shares, compared to its average volume of 143,804. The company's 50-day moving average is $289.95 and its 200-day moving average is $279.67. 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 company has a market capitalization of $8.28 billion, a P/E ratio of 44.74, a P/E/G ratio of 3.21 and a beta of 1.51. RBC Bearings Incorporated has a twelve month low of $214.14 and a twelve month high of $309.01.

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

Insider Transactions at RBC Bearings

In related news, Director Edward Stewart sold 3,000 shares of the firm's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $277.24, for a total transaction of $831,720.00. Following the completion of the sale, the director now directly owns 20,461 shares of the company's stock, valued at $5,672,607.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Richard J. Edwards sold 4,200 shares of the firm'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 sale, the vice president now owns 12,539 shares of the company's stock, valued at $3,669,789.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward Stewart sold 3,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $277.24, for a total value of $831,720.00. Following the completion of the transaction, the director now owns 20,461 shares in the company, valued at $5,672,607.64. The trade was 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 valued at $11,900,641 in the last three months. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RBC has been the subject of a number of research analyst reports. Raymond James initiated coverage on shares of RBC Bearings in a research report on Friday, June 28th. They set a "market perform" rating for the company. Truist Financial reduced their price objective on RBC Bearings from $328.00 to $315.00 and set a "buy" rating for the company in a research report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, RBC Bearings presently has an average rating of "Moderate Buy" and an average price target of $287.67.

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.