GKV Capital Management Co. Inc. Makes New Investment in RBC Bearings Incorporated (NYSE:RBC)

GKV Capital Management Co. Inc. acquired a new stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 925 shares of the industrial products company's stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. R Squared Ltd bought a new position in RBC Bearings during the fourth quarter worth $30,000. Golden State Wealth Management LLC acquired a new stake in shares of RBC Bearings during the 4th quarter worth about $38,000. UMB Bank n.a. boosted its holdings in shares of RBC Bearings by 84.9% during the 4th 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 during the period. Harbor Investment Advisory LLC acquired a new position in RBC Bearings in the 4th quarter valued at about $82,000. Finally, Venturi Wealth Management LLC lifted its position in 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 acquiring an additional 457 shares during the last quarter.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, 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 sale, the chief executive officer now owns 320,088 shares in the company, valued at $117,776,379.60. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 transaction, the chief financial officer now 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 have sold a total of 10,900 shares of company stock worth $3,963,031 over the last 90 days. Insiders own 2.60% of the company's stock.

RBC Bearings Price Performance

Shares of RBC stock traded up $6.43 during trading hours on Tuesday, reaching $319.99. The company's stock had a trading volume of 37,290 shares, compared to its average volume of 161,080. 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 fifty-two week low of $241.43 and a fifty-two week high of $372.83. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 43.91, a PEG ratio of 4.42 and a beta of 1.60. The firm's 50 day simple moving average is $338.91 and its 200-day simple moving average is $322.75.

Wall Street Analysts Forecast Growth

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

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.