Weatherly Asset Management L. P. Takes $216,000 Position in RBC Bearings Incorporated (NYSE:RBC)

Weatherly Asset Management L. P. bought a new stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 723 shares of the industrial products company's stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. UMB Bank n.a. boosted its position in shares of RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company's stock worth $28,000 after buying an additional 75 shares during the period. R Squared Ltd acquired a new position in shares of RBC Bearings during the fourth quarter worth approximately $30,000. Golden State Wealth Management LLC acquired a new position in shares of RBC Bearings during the fourth quarter worth approximately $38,000. Harbor Investment Advisory LLC acquired a new position in shares of RBC Bearings during the fourth quarter worth approximately $82,000. Finally, Blue Trust Inc. boosted its position in shares of RBC Bearings by 541.9% during the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company's stock worth $83,000 after buying an additional 233 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RBC shares. KeyCorp boosted their target price on RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Morgan Stanley boosted their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Truist Financial boosted their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Bank of America cut shares of RBC Bearings from a "buy" rating to a "neutral" rating and boosted their price target for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Finally, William Blair restated an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. 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, RBC Bearings has an average rating of "Moderate Buy" and an average price target of $361.20.

RBC Bearings Stock Up 0.6 %

Shares of RBC Bearings stock traded up $2.20 on Friday, hitting $364.97. 141,202 shares of the company traded hands, compared to its average volume of 153,857. The company has a market cap of $11.46 billion, a PE ratio of 50.24, a PEG ratio of 4.90 and a beta of 1.58. RBC Bearings Incorporated has a 12-month low of $241.43 and a 12-month high of $372.51. The company has a 50-day moving average price of $321.74 and a 200 day moving average price of $305.81. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

Insider Buying and Selling

In related news, Director Michael H. Ambrose sold 400 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were 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 in the company, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the company's stock in a transaction 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 owns 11,382 shares of the company's stock, valued at $4,123,129.50. This represents a 41.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,900 shares of company stock worth $3,963,031. 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.