RBC Bearings Incorporated (NYSE:RBC) Holdings Increased by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI increased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 41.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,409 shares of the industrial products company’s stock after purchasing an additional 410 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in RBC Bearings were worth $421,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jane Street Group LLC raised its holdings in shares of RBC Bearings by 18.5% in the 3rd quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock worth $4,951,000 after purchasing an additional 2,584 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of RBC Bearings by 41.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock worth $8,896,000 after purchasing an additional 8,725 shares in the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of RBC Bearings by 17.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after purchasing an additional 13,395 shares in the last quarter. Holocene Advisors LP raised its holdings in shares of RBC Bearings by 69.4% in the 3rd quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company’s stock worth $3,711,000 after purchasing an additional 5,078 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of RBC Bearings by 2.4% in the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock worth $253,028,000 after purchasing an additional 19,962 shares in the last quarter.

RBC Bearings Trading Down 0.6 %

Shares of NYSE:RBC opened at $368.79 on Friday. The firm has a fifty day moving average of $325.12 and a two-hundred day moving average of $308.59. 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 firm has a market capitalization of $11.58 billion, a P/E ratio of 50.66, a price-to-earnings-growth ratio of 4.98 and a beta of 1.58.

Analyst Ratings Changes

Several research firms have recently weighed in on RBC. KeyCorp lifted their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Morgan Stanley lifted their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. William Blair reissued an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. 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. Finally, Truist Financial lifted 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.20.

Insider Buying and Selling

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 stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the transaction, the director now directly owns 6,728 shares of the company’s stock, valued at $2,441,523.92. This represents a 5.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings stock in a transaction dated 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,900 shares of company stock worth $3,963,031. Corporate insiders own 2.60% of the company’s stock.

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.