687 Shares in RBC Bearings Incorporated (NYSE:RBC) Bought by Callan Family Office LLC

Callan Family Office LLC purchased a new stake in shares of RBC Bearings Incorporated (NYSE:RBC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 687 shares of the industrial products company’s stock, valued at approximately $206,000.

Other institutional investors have also bought and sold shares of the company. 1832 Asset Management L.P. bought a new stake in RBC Bearings during the fourth quarter valued at $27,000. DT Investment Partners LLC bought a new stake in RBC Bearings during the second quarter valued at $35,000. Opal Wealth Advisors LLC bought a new stake in RBC Bearings during the second quarter valued at $41,000. Benjamin F. Edwards & Company Inc. boosted its position in RBC Bearings by 570.8% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 161 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 137 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in RBC Bearings during the second quarter valued at $54,000.

RBC Bearings Price Performance

RBC stock opened at $283.05 on Wednesday. The stock has a market capitalization of $8.19 billion, a PE ratio of 44.23, a price-to-earnings-growth ratio of 3.40 and a beta of 1.51. The company’s 50-day moving average is $289.10 and its 200-day moving average is $278.70. 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 Incorporated has a 1 year low of $214.14 and a 1 year high of $309.01.

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. Truist Financial cut their price target 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. Raymond James began coverage on shares of RBC Bearings in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Four 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $287.67.

Insider Buying and Selling

In related news, CEO Michael J. Hartnett sold 503 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total value of $145,367.00. Following the sale, the chief executive officer now owns 322,588 shares in the company, valued at $93,227,932. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other RBC Bearings news, CEO Michael J. Hartnett sold 503 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the sale, the chief executive officer now owns 322,588 shares in the company, valued at approximately $93,227,932. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Hartnett sold 19,283 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $289.42, for a total transaction of $5,580,885.86. Following the completion of the sale, the chief executive officer now owns 317,814 shares of the company’s stock, valued at approximately $91,981,727.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,327 shares of company stock worth $11,900,641 in the last quarter. Insiders own 2.90% of the company’s stock.

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.