Bradley Foster & Sargent Inc. CT Lowers Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Bradley Foster & Sargent Inc. CT reduced its stake in RBC Bearings Incorporated (NYSE:RBC) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,399 shares of the industrial products company’s stock after selling 893 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in RBC Bearings were worth $41,102,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Curated Wealth Partners LLC raised its stake in RBC Bearings by 1.6% in the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock worth $595,000 after buying an additional 32 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of RBC Bearings by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock worth $273,000 after acquiring an additional 47 shares in the last quarter. Marco Investment Management LLC lifted its position in RBC Bearings by 6.6% during the third quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 50 shares during the last quarter. Raymond James Trust N.A. boosted its stake in RBC Bearings by 2.6% in the third quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company’s stock valued at $633,000 after acquiring an additional 53 shares in the last quarter. Finally, SkyView Investment Advisors LLC grew its holdings in RBC Bearings by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company’s stock worth $1,084,000 after purchasing an additional 58 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RBC. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and increased their price objective for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Morgan Stanley raised their price target on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. KeyCorp upped their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Finally, Truist Financial boosted their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RBC Bearings currently has an average rating of “Moderate Buy” and an average price target of $361.20.

Insiders Place Their Bets

In other RBC Bearings news, CEO Michael J. Hartnett sold 2,500 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total value of $919,875.00. Following the sale, the chief executive officer now directly owns 320,088 shares of the company’s stock, valued at approximately $117,776,379.60. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $362.25, for a total value of $2,898,000.00. Following the transaction, the chief financial officer now owns 11,382 shares of the company’s stock, valued at $4,123,129.50. The trade was a 41.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is owned by insiders.

RBC Bearings Trading Down 0.6 %

Shares of NYSE:RBC opened at $368.79 on Friday. 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 52-week low of $241.43 and a 52-week high of $372.83. The stock has a market cap of $11.58 billion, a price-to-earnings ratio of 50.66, a PEG ratio of 4.98 and a beta of 1.58. The business has a 50-day moving average price of $325.12 and a 200-day moving average price of $308.59.

RBC Bearings Company 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.