Pacer Advisors Inc. Has $1.17 Million Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Pacer Advisors Inc. reduced its stake in RBC Bearings Incorporated (NYSE:RBC) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,324 shares of the industrial products company’s stock after selling 62 shares during the quarter. Pacer Advisors Inc.’s holdings in RBC Bearings were worth $1,167,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. 1832 Asset Management L.P. bought a new stake in shares of RBC Bearings in the 4th quarter valued at $27,000. DT Investment Partners LLC bought a new position in shares of RBC Bearings in the 2nd quarter worth about $35,000. Opal Wealth Advisors LLC acquired a new position in shares of RBC Bearings in the 2nd quarter valued at about $41,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of 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 valued at $44,000 after purchasing an additional 137 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in RBC Bearings in the second quarter worth approximately $54,000.

Insider Buying and Selling at RBC Bearings

In other news, Director Edward Stewart sold 3,000 shares of RBC Bearings stock in a transaction on Tuesday, August 6th. The stock was 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 directly owns 20,461 shares in the company, valued at $5,672,607.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Michael J. Hartnett sold 503 shares of the company’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 transaction, the chief executive officer now owns 322,588 shares of the company’s stock, valued at $93,227,932. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Edward Stewart sold 3,000 shares of RBC Bearings 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 sale, the director now directly owns 20,461 shares of the company’s stock, valued at approximately $5,672,607.64. 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 90 days. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RBC shares. Raymond James began coverage on RBC Bearings in a report on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial decreased their target price on shares of 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $287.67.

RBC Bearings Stock Performance

RBC stock opened at $299.98 on Friday. RBC Bearings Incorporated has a 12-month low of $214.14 and a 12-month high of $309.01. The firm has a market cap of $8.77 billion, a PE ratio of 46.87, a P/E/G ratio of 3.65 and a beta of 1.51. The business has a 50 day moving average of $288.63 and a 200-day moving average of $277.09. The company has a quick ratio of 1.09, a current ratio of 3.01 and a debt-to-equity ratio of 0.40.

RBC Bearings (NYSE:RBC) last issued 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. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. The firm had revenue of $406.30 million for the quarter, compared to analysts’ expectations of $416.65 million. During the same quarter in the prior year, the firm earned $1.98 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts expect that RBC Bearings Incorporated will post 8.95 earnings per share for the current year.

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.