Alliancebernstein L.P. Grows Holdings in RBC Bearings Incorporated (NYSE:RBC)

Alliancebernstein L.P. increased its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,249 shares of the industrial products company's stock after acquiring an additional 1,143 shares during the period. Alliancebernstein L.P. owned about 0.12% of RBC Bearings worth $11,741,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of RBC Bearings during the 4th quarter valued at about $88,184,000. Raymond James Financial Inc. purchased a new stake in RBC Bearings in the fourth quarter worth approximately $71,324,000. Vanguard Group Inc. grew its position in RBC Bearings by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock valued at $879,149,000 after acquiring an additional 229,466 shares during the last quarter. Blair William & Co. IL raised its stake in shares of RBC Bearings by 89.4% during the fourth quarter. Blair William & Co. IL now owns 185,600 shares of the industrial products company's stock worth $55,520,000 after acquiring an additional 87,624 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of RBC Bearings by 39.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company's stock worth $66,247,000 after acquiring an additional 62,706 shares during the last quarter.

RBC Bearings Trading Down 0.1 %

NYSE:RBC traded down $0.20 during mid-day trading on Tuesday, reaching $334.83. 14,679 shares of the company's stock traded hands, compared to its average volume of 160,987. The company has a 50 day moving average price of $343.06 and a 200-day moving average price of $321.87. The firm has a market capitalization of $10.52 billion, a price-to-earnings ratio of 45.98, a PEG ratio of 4.42 and a beta of 1.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings Incorporated has a 12-month low of $241.43 and a 12-month high of $372.83.

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Insider Activity at RBC Bearings

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $362.25, for a total value of $2,898,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,382 shares in the company, valued at approximately $4,123,129.50. This represents a 41.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the sale, the chief executive officer now directly owns 320,088 shares in the company, valued at $117,776,379.60. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock worth $3,963,031 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RBC. Truist Financial lifted their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Morgan Stanley raised their price objective on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, KeyCorp increased their target price on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, RBC Bearings has a consensus rating of "Moderate Buy" and an average target price of $361.20.

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.