Intrust Bank NA Buys 105 Shares of RBC Bearings Incorporated (NYSE:RBC)

Intrust Bank NA grew its stake in RBC Bearings Incorporated (NYSE:RBC) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,285 shares of the industrial products company’s stock after purchasing an additional 105 shares during the quarter. Intrust Bank NA’s holdings in RBC Bearings were worth $366,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. LWM Advisory Services LLC bought a new position in shares of RBC Bearings in the third quarter valued at about $31,000. Operose Advisors LLC acquired a new position in shares of RBC Bearings in the third quarter valued at about $45,000. GAMMA Investing LLC acquired a new position in shares of RBC Bearings in the fourth quarter valued at about $66,000. RiverPark Advisors LLC acquired a new position in shares of RBC Bearings in the third quarter valued at about $69,000. Finally, Fifth Third Bancorp grew its stake in shares of RBC Bearings by 14.3% in the third quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 53 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently commented on RBC. Truist Financial upped their price target on shares of RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Citigroup upped their price target on shares of RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, RBC Bearings has a consensus rating of “Moderate Buy” and a consensus price target of $275.86.

RBC Bearings Trading Up 1.5 %

Shares of RBC Bearings stock opened at $248.23 on Thursday. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 41.51, a PEG ratio of 4.65 and a beta of 1.46. The company has a quick ratio of 1.12, a current ratio of 3.28 and a debt-to-equity ratio of 0.47. RBC Bearings Incorporated has a 12-month low of $195.18 and a 12-month high of $288.16. The firm’s 50-day moving average price is $261.58 and its two-hundred day moving average price is $258.85.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). The firm had revenue of $373.91 million for the quarter, compared to analyst estimates of $376.61 million. RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. On average, analysts forecast that RBC Bearings Incorporated will post 8.02 earnings per share for the current fiscal year.

Insider Transactions at RBC Bearings

In other news, COO Daniel A. Bergeron sold 15,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total value of $4,008,300.00. Following the completion of the transaction, the chief operating officer now owns 121,935 shares of the company’s stock, valued at $32,583,470.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.90% of the company’s stock.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.