Invesco Ltd. Sells 23,473 Shares of RBC Bearings Incorporated $RBC

Invesco Ltd. decreased its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 9.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,451 shares of the industrial products company’s stock after selling 23,473 shares during the quarter. Invesco Ltd. owned about 0.75% of RBC Bearings worth $91,371,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in RBC Bearings in the 1st quarter valued at $26,000. Hantz Financial Services Inc. grew its holdings in shares of RBC Bearings by 1,257.1% during the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock valued at $37,000 after buying an additional 88 shares during the last quarter. AlphaQuest LLC bought a new stake in shares of RBC Bearings during the second quarter worth about $83,000. SVB Wealth LLC acquired a new stake in shares of RBC Bearings in the 1st quarter worth about $111,000. Finally, IFP Advisors Inc lifted its position in RBC Bearings by 51.6% in the 2nd quarter. IFP Advisors Inc now owns 291 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 99 shares in the last quarter.

RBC Bearings Trading Down 1.4%

NYSE RBC opened at $437.16 on Wednesday. The business’s fifty day moving average is $414.81 and its 200-day moving average is $395.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.18 and a quick ratio of 1.13. The stock has a market capitalization of $13.82 billion, a price-to-earnings ratio of 53.38, a PEG ratio of 3.13 and a beta of 1.53. RBC Bearings Incorporated has a one year low of $290.56 and a one year high of $449.60.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter. The business had revenue of $156.21 million during the quarter. RBC Bearings had a net margin of 15.03% and a return on equity of 10.47%. Equities research analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Wall Street Analyst Weigh In

RBC has been the subject of a number of recent research reports. Truist Financial reissued a “buy” rating and set a $471.00 price objective (up from $455.00) on shares of RBC Bearings in a report on Monday, November 3rd. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Bank of America raised shares of RBC Bearings from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $390.00 to $500.00 in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $503.00 target price on shares of RBC Bearings and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a report on Monday. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $459.17.

Insider Activity at RBC Bearings

In other RBC Bearings news, Director Steven H. Kaplan sold 700 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total value of $310,100.00. Following the sale, the director directly owned 1,999 shares in the company, valued at $885,557. The trade was a 25.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John J. Feeney sold 105 shares of the company’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $382.83, for a total value of $40,197.15. Following the transaction, the vice president directly owned 2,666 shares in the company, valued at $1,020,624.78. This represents a 3.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.90% 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.