RBC Bearings Incorporated (NYSE:RBC) Stock Holdings Lifted by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in RBC Bearings Incorporated (NYSE:RBC) by 8.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,938,923 shares of the industrial products company’s stock after acquiring an additional 229,466 shares during the quarter. Vanguard Group Inc. owned approximately 9.36% of RBC Bearings worth $879,149,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of RBC Bearings in the fourth quarter valued at $30,000. Golden State Wealth Management LLC purchased a new stake in RBC Bearings in the 4th quarter worth about $38,000. UMB Bank n.a. boosted its position in RBC Bearings by 84.9% during the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 79 shares during the period. Harbor Investment Advisory LLC purchased a new position in RBC Bearings during the 4th quarter valued at about $82,000. Finally, Quarry LP lifted its position in shares of RBC Bearings by 1,003.7% in the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 271 shares in the last quarter.

RBC Bearings Trading Down 2.0 %

Shares of RBC stock opened at $326.09 on Friday. The business’s 50 day moving average is $345.26 and its two-hundred day moving average is $319.26. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a 12 month low of $241.43 and a 12 month high of $372.83. The company has a market cap of $10.24 billion, a PE ratio of 44.79, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72.

Analyst Ratings Changes

Several brokerages recently issued reports on RBC. KeyCorp increased their price objective on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Truist Financial boosted their price target on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley lifted their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $361.20.

Insiders Place Their Bets

In related news, CEO Michael J. Hartnett sold 2,500 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.95, for a total transaction of $919,875.00. Following the completion of the transaction, the chief executive officer now owns 320,088 shares of the company’s stock, valued at approximately $117,776,379.60. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the stock in a transaction that occurred 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 sale, the director now owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock valued at $3,963,031 in the last quarter. Insiders own 2.60% of the company’s stock.

About RBC Bearings

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.