Advantage Alpha Capital Partners LP Buys 4,835 Shares of RBC Bearings Incorporated (NYSE:RBC)

Advantage Alpha Capital Partners LP boosted its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 35.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,514 shares of the industrial products company's stock after purchasing an additional 4,835 shares during the quarter. RBC Bearings makes up approximately 1.3% of Advantage Alpha Capital Partners LP's holdings, making the stock its 26th largest position. Advantage Alpha Capital Partners LP owned approximately 0.06% of RBC Bearings worth $5,545,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted its position in shares of RBC Bearings by 18.5% during the third quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company's stock worth $4,951,000 after buying an additional 2,584 shares during the period. Holocene Advisors LP raised its stake in shares of RBC Bearings by 69.4% during the third quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company's stock valued at $3,711,000 after purchasing an additional 5,078 shares in the last quarter. State Street Corp lifted its holdings in RBC Bearings by 2.4% in the third quarter. State Street Corp now owns 845,175 shares of the industrial products company's stock worth $253,028,000 after purchasing an additional 19,962 shares during the period. Citigroup Inc. increased its stake in RBC Bearings by 7.0% during the 3rd quarter. Citigroup Inc. now owns 27,157 shares of the industrial products company's stock valued at $8,130,000 after buying an additional 1,770 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of RBC Bearings by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company's stock worth $59,581,000 after buying an additional 1,103 shares in the last quarter.

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Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. KeyCorp increased their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Morgan Stanley boosted their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Truist Financial raised their target price on RBC Bearings from $351.00 to $410.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Finally, William Blair reissued an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, RBC Bearings has a consensus rating of "Moderate Buy" and an average target price of $361.20.

RBC Bearings Trading Down 0.7 %

Shares of RBC stock traded down $2.22 during trading hours on Tuesday, reaching $332.89. 220,666 shares of the stock traded hands, compared to its average volume of 151,023. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $10.46 billion, a PE ratio of 45.73, a PEG ratio of 4.42 and a beta of 1.72. RBC Bearings Incorporated has a 1-year low of $241.43 and a 1-year high of $372.83. The business has a fifty day moving average price of $343.98 and a 200 day moving average price of $318.52.

Insider Activity

In related news, Director Michael H. Ambrose sold 400 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the transaction, the director now owns 6,728 shares of the company's stock, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert M. Sullivan sold 8,000 shares of the business'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 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 represents a 41.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is owned by corporate insiders.

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.