Atria Investments Inc Acquires 251 Shares of RBC Bearings Incorporated (NYSE:RBC)

Atria Investments Inc grew its holdings in RBC Bearings Incorporated (NYSE:RBC) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,528 shares of the industrial products company’s stock after acquiring an additional 251 shares during the quarter. Atria Investments Inc’s holdings in RBC Bearings were worth $2,252,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of RBC. R Squared Ltd bought a new position in shares of RBC Bearings during the fourth quarter worth about $30,000. Golden State Wealth Management LLC bought a new position in shares of RBC Bearings during the fourth quarter worth about $38,000. UMB Bank n.a. grew its holdings 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 worth $51,000 after buying an additional 79 shares in the last quarter. Harbor Investment Advisory LLC bought a new position in shares of RBC Bearings during the fourth quarter worth about $82,000. Finally, Quarry LP grew its holdings 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 worth $89,000 after buying an additional 271 shares in the last quarter.

Insider Activity

In other news, CFO Robert M. Sullivan sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was 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 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael J. Hartnett sold 2,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 320,088 shares of the company’s stock, valued at approximately $117,776,379.60. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock valued at $3,963,031 over the last three months. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley increased their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and increased their price target for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. William Blair reissued an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Truist Financial increased their price target on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, KeyCorp increased their price target 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 issued a buy rating to the company. Based on data from MarketBeat, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average price target of $361.20.

RBC Bearings Stock Performance

RBC opened at $353.30 on Monday. RBC Bearings Incorporated has a 12-month low of $241.43 and a 12-month high of $372.83. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 48.53, a PEG ratio of 4.42 and a beta of 1.72. The business has a 50 day moving average of $334.91 and a 200-day moving average of $314.72. 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 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.