Intrust Bank NA Makes New Investment in RBC Bearings Incorporated (NYSE:RBC)

Intrust Bank NA purchased a new position in RBC Bearings Incorporated (NYSE:RBC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,283 shares of the industrial products company's stock, valued at approximately $299,000.

Several other hedge funds have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in RBC Bearings in the 1st quarter worth $32,975,000. Royce & Associates LP lifted its stake in RBC Bearings by 11.7% in the 1st quarter. Royce & Associates LP now owns 215,234 shares of the industrial products company's stock worth $50,091,000 after purchasing an additional 22,482 shares in the last quarter. Intercontinental Wealth Advisors LLC purchased a new stake in RBC Bearings in the 1st quarter worth $1,443,000. Integrated Wealth Concepts LLC purchased a new stake in RBC Bearings in the 1st quarter worth $233,000. Finally, American Capital Management Inc. purchased a new stake in RBC Bearings in the 1st quarter worth $48,534,000.

Separately, Truist Financial boosted their price target on shares of RBC Bearings from $263.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $245.83.

Read Our Latest Stock Analysis on RBC

In related news, Director Michael H. Ambrose sold 400 shares of the company's stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $220.00, for a total transaction of $88,000.00. Following the transaction, the director now directly owns 6,800 shares in the company, valued at approximately $1,496,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is currently owned by insiders.

Shares of NYSE RBC opened at $220.00 on Thursday. The firm's 50-day moving average price is $214.96 and its 200-day moving average price is $223.41. The company has a current ratio of 2.95, a quick ratio of 1.05 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 44.53, a P/E/G ratio of 4.88 and a beta of 1.42. RBC Bearings Incorporated has a 12-month low of $195.18 and a 12-month high of $264.94.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its earnings results on Friday, May 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.26. The firm had revenue of $394.42 million for the quarter, compared to analysts' expectations of $379.84 million. RBC Bearings had a net margin of 11.34% and a return on equity of 9.45%. On average, equities research analysts anticipate that RBC Bearings Incorporated will post 7.9 EPS for the current fiscal year.

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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