RBC Bearings Incorporated (NYSE:RBC) Holdings Increased by Blair William & Co. IL

Blair William & Co. IL increased its stake in RBC Bearings Incorporated (NYSE:RBC) by 89.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,600 shares of the industrial products company’s stock after acquiring an additional 87,624 shares during the period. Blair William & Co. IL owned approximately 0.59% of RBC Bearings worth $55,520,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Truist Financial raised 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. Morgan Stanley lifted their price target 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. Finally, KeyCorp increased their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $361.20.

RBC Bearings Stock Up 0.3 %

Shares of NYSE:RBC opened at $333.35 on Friday. RBC Bearings Incorporated has a 52 week low of $241.43 and a 52 week high of $372.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The company has a market cap of $10.47 billion, a PE ratio of 45.79, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The firm has a 50 day simple moving average of $344.99 and a 200 day simple moving average of $318.72.

Insider Activity

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

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.