Raymond James Trust N.A. Has $633,000 Holdings in RBC Bearings Incorporated (NYSE:RBC)

Raymond James Trust N.A. grew its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,116 shares of the industrial products company’s stock after buying an additional 53 shares during the quarter. Raymond James Trust N.A.’s holdings in RBC Bearings were worth $633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in RBC Bearings by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 296,011 shares of the industrial products company’s stock valued at $88,620,000 after acquiring an additional 2,859 shares in the last quarter. Jennison Associates LLC increased its stake in shares of RBC Bearings by 170.2% during the 3rd quarter. Jennison Associates LLC now owns 118,240 shares of the industrial products company’s stock worth $35,399,000 after purchasing an additional 74,474 shares during the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of RBC Bearings by 41.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock valued at $8,896,000 after purchasing an additional 8,725 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of RBC Bearings in the 3rd quarter valued at $3,133,000. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in RBC Bearings by 33.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 1,142 shares of the industrial products company’s stock worth $342,000 after purchasing an additional 285 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RBC shares. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and raised their target price for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Truist Financial boosted their target price on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price for the company in a research report on Friday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.67.

RBC Bearings Stock Performance

RBC opened at $338.85 on Tuesday. RBC Bearings Incorporated has a 12-month low of $240.36 and a 12-month high of $343.66. The firm has a market capitalization of $10.64 billion, a P/E ratio of 49.47, a price-to-earnings-growth ratio of 4.63 and a beta of 1.51. The stock’s 50 day moving average price is $298.76 and its two-hundred day moving average price is $289.10. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.01). The company had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.07 EPS. On average, equities analysts forecast that RBC Bearings Incorporated will post 8.94 earnings per share for the current year.

Insider Transactions at RBC Bearings

In related news, CEO Michael J. Hartnett sold 11,341 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $287.52, for a total transaction of $3,260,764.32. Following the transaction, the chief executive officer now directly owns 320,053 shares in the company, valued at $92,021,638.56. The trade was a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 34,127 shares of company stock worth $9,839,707. 2.60% of the stock is currently owned by company insiders.

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.