Stephens Investment Management Group LLC Has $91.25 Million Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Stephens Investment Management Group LLC reduced its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 305,035 shares of the industrial products company’s stock after selling 1,484 shares during the quarter. RBC Bearings accounts for about 1.2% of Stephens Investment Management Group LLC’s holdings, making the stock its 16th biggest holding. Stephens Investment Management Group LLC owned approximately 0.97% of RBC Bearings worth $91,248,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Jennison Associates LLC boosted its stake in shares of RBC Bearings by 170.2% in the 3rd quarter. Jennison Associates LLC now owns 118,240 shares of the industrial products company’s stock valued at $35,399,000 after purchasing an additional 74,474 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of RBC Bearings during the third quarter worth $20,657,000. Douglas Lane & Associates LLC increased its holdings in shares of RBC Bearings by 54.0% during the third quarter. Douglas Lane & Associates LLC now owns 126,073 shares of the industrial products company’s stock worth $37,744,000 after buying an additional 44,211 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in shares of RBC Bearings by 12.6% during the 3rd quarter. Champlain Investment Partners LLC now owns 365,054 shares of the industrial products company’s stock valued at $109,290,000 after acquiring an additional 40,724 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in RBC Bearings during the 4th quarter worth $7,785,000.

Insider Buying and Selling at RBC Bearings

In other news, Director Michael H. Ambrose sold 400 shares of RBC Bearings stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value of $145,156.00. Following the completion of the sale, the director now owns 6,728 shares in the company, valued at $2,441,523.92. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

RBC has been the subject of several research reports. Morgan Stanley increased their target price on RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. KeyCorp raised their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Finally, Truist Financial raised their target price on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average target price of $348.50.

RBC Bearings Stock Performance

RBC stock opened at $361.80 on Friday. The firm has a market cap of $11.36 billion, a PE ratio of 49.70, a price-to-earnings-growth ratio of 4.90 and a beta of 1.58. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average price of $319.68 and a 200-day moving average price of $303.83. RBC Bearings Incorporated has a 1-year low of $240.36 and a 1-year high of $372.51.

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.