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

<p style="text-align: center;"><img src="/ueditor/php/upload/image/20230807/1691408639525891.png" title="1691408639525891.png" alt="1.png"/></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Integrated Wealth Concepts LLC purchased a new position in shares of RBC Bearings Incorporated (NYSE:RBC&nbsp;-&nbsp;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&#39;s stock, valued at approximately $233,000.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">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.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Insider Buying and Selling</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">In other RBC Bearings news, Director&nbsp;Michael H. Ambrose&nbsp;sold 400 shares of the business&#39;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 &amp; Exchange Commission, which is available through&nbsp;this hyperlink. 2.90% of the stock is owned by corporate insiders.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Analyst Upgrades and Downgrades</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Separately, Truist Financial raised their price objective on shares of RBC Bearings from $263.00 to $265.00 and gave the stock a &quot;buy&quot; 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&#39;s stock. According to MarketBeat, RBC Bearings has an average rating of &quot;Hold&quot; and an average target price of $245.83.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">RBC Bearings Price Performance</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Shares of&nbsp;NYSE:RBC&nbsp;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&#39;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.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">RBC Bearings (NYSE:RBC&nbsp;-&nbsp;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&#39; consensus estimates of $1.80 by $0.26. The company had revenue of $394.42 million for the quarter, compared to analysts&#39; 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.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">RBC Bearings Profile</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">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.</span></p><p><br/></p>