RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Royce & Associates LP

Royce & Associates LP trimmed its position in RBC Bearings Incorporated (NYSE:RBC) by 9.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,797 shares of the industrial products company’s stock after selling 14,307 shares during the period. Royce & Associates LP’s holdings in RBC Bearings were worth $41,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

RBC has been the topic of several recent research reports. Truist Financial upped their price target on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their price target for the company from $330.00 to $335.00 in a report on Thursday, November 21st. KeyCorp upped their price target 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 reissued an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Finally, Morgan Stanley increased their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $361.20.

RBC Bearings Trading Up 1.5 %

Shares of RBC Bearings stock opened at $336.36 on Friday. The firm has a market capitalization of $10.56 billion, a PE ratio of 46.20, a P/E/G ratio of 4.42 and a beta of 1.72. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83. The firm’s 50-day moving average price is $338.81 and its 200 day moving average price is $316.14. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34.

Insider Activity at RBC Bearings

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the 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 completion of the sale, the chief financial officer now owns 11,382 shares in the company, valued at approximately $4,123,129.50. This represents a 41.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael H. Ambrose sold 400 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of 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. In the last three months, insiders have sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is owned by corporate insiders.

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.