Farringdon Capital Ltd. Invests $265,000 in RBC Bearings Incorporated (NYSE:RBC)

Farringdon Capital Ltd. acquired a new position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 885 shares of the industrial products company's stock, valued at approximately $265,000.

Other institutional investors have also modified their holdings of the company. R Squared Ltd bought a new stake in RBC Bearings in the fourth quarter valued at about $30,000. Golden State Wealth Management LLC acquired a new stake in shares of RBC Bearings during the 4th quarter valued at approximately $38,000. UMB Bank n.a. boosted its holdings in RBC Bearings by 84.9% in the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock worth $51,000 after purchasing an additional 79 shares during the period. Harbor Investment Advisory LLC bought a new stake in RBC Bearings during the fourth quarter valued at $82,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of RBC Bearings by 2,405.3% during the fourth quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company's stock worth $142,000 after purchasing an additional 457 shares during the period.

Insiders Place Their Bets

In other news, CFO Robert M. Sullivan sold 8,000 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 11,382 shares of the company's stock, valued at approximately $4,123,129.50. The trade was a 41.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Hartnett sold 2,500 shares of the company's stock in a transaction 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 owns 320,088 shares of the company's stock, valued at approximately $117,776,379.60. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RBC has been the topic of several research reports. KeyCorp increased their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Truist Financial dropped their target price on RBC Bearings from $410.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Morgan Stanley boosted their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $354.20.

RBC Bearings Stock Performance

RBC stock traded up $7.21 during trading on Wednesday, reaching $325.72. 86,176 shares of the company's stock were exchanged, compared to its average volume of 161,859. The firm has a market cap of $10.23 billion, a PE ratio of 44.74, a P/E/G ratio of 4.42 and a beta of 1.60. 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 1-year low of $241.43 and a 1-year high of $372.83. The company's fifty day moving average price is $338.05 and its 200-day moving average price is $322.73.

RBC Bearings 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.