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Integrated Wealth Concepts LLC Invests $233,000 in RBC Bearings Incorporated

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Aug 07,2023


Integrated Wealth Concepts LLC purchased a new position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,002 shares of the industrial products company's stock, valued at approximately $233,000.

Several other large investors also recently modified their holdings of the stock. Signaturefd LLC bought a new position in RBC Bearings in the 1st quarter worth approximately $29,000. Private Trust Co. NA bought a new position in RBC Bearings in the 1st quarter worth approximately $39,000. Allworth Financial LP bought a new position in RBC Bearings in the 1st quarter worth approximately $44,000. Advisors Asset Management Inc. bought a new position in RBC Bearings in the 1st quarter worth approximately $53,000. Finally, Eagle Bay Advisors LLC bought a new position in RBC Bearings in the 1st quarter worth approximately $56,000.

Insider Buying and Selling

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the business's stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $220.00, for a total value of $88,000.00. Following the transaction, the director now owns 6,800 shares in the company, valued at $1,496,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Truist Financial raised their price objective on shares of RBC Bearings from $263.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, RBC Bearings has an average rating of "Hold" and an average target price of $245.83.

RBC Bearings Price Performance

Shares of NYSE:RBC opened at $220.78 on Monday. The stock has a market cap of $6.38 billion, a PE ratio of 41.11, a PEG ratio of 4.76 and a beta of 1.42. The company's fifty day moving average is $215.46 and its 200 day moving average is $223.19. RBC Bearings Incorporated has a 52 week low of $195.18 and a 52 week high of $264.94. The company has a quick ratio of 1.05, a current ratio of 2.95 and a debt-to-equity ratio of 0.55.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its earnings results on Friday, May 19th. The industrial products company reported $2.06 EPS for the quarter, topping analysts' consensus estimates of $1.80 by $0.26. The company had revenue of $394.42 million for the quarter, compared to analysts' expectations of $379.84 million. RBC Bearings had a net margin of 11.93% and a return on equity of 9.60%. Research analysts anticipate that RBC Bearings Incorporated will post 7.9 earnings per share for the current year.

RBC Bearings Profile

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.

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