RBC Bearings Incorporated (NYSE:RBC) Shares Sold by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP reduced its stake in RBC Bearings Incorporated (NYSE:RBC) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,248 shares of the industrial products company’s stock after selling 330 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in RBC Bearings were worth $3,664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. UMB Bank n.a. lifted its holdings in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. nVerses Capital LLC acquired a new stake in RBC Bearings in the third quarter worth $120,000. Blue Trust Inc. lifted its stake in RBC Bearings by 541.9% in the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after buying an additional 233 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of RBC Bearings by 2.6% during the third quarter. Raymond James & Associates now owns 163,312 shares of the industrial products company’s stock valued at $48,892,000 after acquiring an additional 4,157 shares during the period. Finally, Berry Wealth Group LP grew its position in shares of RBC Bearings by 19.1% during the third quarter. Berry Wealth Group LP now owns 899 shares of the industrial products company’s stock worth $269,000 after acquiring an additional 144 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RBC. Truist Financial lifted their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price target for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Morgan Stanley boosted their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. KeyCorp raised their target price on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, RBC Bearings currently has an average rating of “Moderate Buy” and a consensus price target of $348.50.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the company’s stock in a transaction dated 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 directly owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the transaction, the chief executive officer now owns 320,088 shares of the company’s stock, valued at approximately $117,776,379.60. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

RBC Bearings Price Performance

NYSE RBC opened at $364.76 on Wednesday. RBC Bearings Incorporated has a 12 month low of $241.43 and a 12 month high of $372.51. The firm has a market capitalization of $11.46 billion, a PE ratio of 50.11, a P/E/G ratio of 4.90 and a beta of 1.58. The company’s 50 day simple moving average is $320.71 and its 200 day simple moving average is $305.01. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

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.