Whittier Trust Co. Purchases 1,955 Shares of RBC Bearings Incorporated (NYSE:RBC)

Whittier Trust Co. raised its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,924 shares of the industrial products company’s stock after acquiring an additional 1,955 shares during the period. Whittier Trust Co. owned approximately 0.18% of RBC Bearings worth $17,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new position in RBC Bearings during the fourth quarter valued at $30,000. Golden State Wealth Management LLC purchased a new stake in shares of RBC Bearings during the fourth quarter valued at $38,000. UMB Bank n.a. boosted its stake in shares of RBC Bearings by 84.9% during 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 period. Harbor Investment Advisory LLC purchased a new stake in shares of RBC Bearings during the fourth quarter valued at $82,000. Finally, Quarry LP boosted its stake in shares of RBC Bearings by 1,003.7% during 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 period.

RBC Bearings Stock Performance

RBC opened at $338.15 on Thursday. RBC Bearings Incorporated has a 52-week low of $241.43 and a 52-week high of $372.83. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The company has a market cap of $10.62 billion, a P/E ratio of 46.45, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The firm’s 50-day moving average price is $341.29 and its 200-day moving average price is $317.05.

Wall Street Analysts Forecast Growth

RBC has been the subject of a number of research reports. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. Truist Financial upped their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. KeyCorp increased their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley increased their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Three 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $361.20.

Insider Buying and Selling

In other RBC Bearings news, CEO Michael J. Hartnett sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.95, for a total value of $919,875.00. Following the completion of the sale, the chief executive officer now directly owns 320,088 shares of the company’s stock, valued at $117,776,379.60. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was 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 $2,441,523.92. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is owned by company 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.