Amalgamated Bank Has $4.41 Million Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Amalgamated Bank increased its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,731 shares of the industrial products company's stock after buying an additional 1,038 shares during the quarter. Amalgamated Bank's holdings in RBC Bearings were worth $4,407,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in RBC Bearings by 2.4% in the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company's stock valued at $253,028,000 after buying an additional 19,962 shares during the period. Conestoga Capital Advisors LLC lifted its position in RBC Bearings by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company's stock valued at $221,793,000 after purchasing an additional 12,375 shares during the period. Geneva Capital Management LLC boosted its holdings in RBC Bearings by 1.4% in the 3rd quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company's stock valued at $176,829,000 after purchasing an additional 8,012 shares in the last quarter. Geode Capital Management LLC increased its position in RBC Bearings by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company's stock worth $144,490,000 after purchasing an additional 5,040 shares during the period. Finally, Port Capital LLC increased its position in RBC Bearings by 0.9% during the 3rd quarter. Port Capital LLC now owns 385,101 shares of the industrial products company's stock worth $115,292,000 after purchasing an additional 3,525 shares during the period.

RBC Bearings Stock Down 0.2 %

NYSE RBC traded down $0.79 on Tuesday, hitting $355.17. 54,324 shares of the stock traded hands, compared to its average volume of 143,812. The company has a market capitalization of $11.16 billion, a P/E ratio of 48.73, a price-to-earnings-growth ratio of 4.42 and a beta of 1.58. The stock has a 50-day moving average of $331.01 and a 200 day moving average of $312.92. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83.

Insider Buying and Selling

In other RBC Bearings news, CEO Michael J. Hartnett sold 2,500 shares of the business's 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 completion of the transaction, the chief executive officer now directly owns 320,088 shares of the company's stock, valued at $117,776,379.60. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the director now owns 6,728 shares in the company, valued at $2,441,523.92. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,900 shares of company stock valued at $3,963,031. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Bank of America downgraded RBC Bearings from a "buy" rating to a "neutral" rating and lifted their price target for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Morgan Stanley boosted their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. William Blair reiterated an "outperform" rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Truist Financial boosted their target price on RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Finally, KeyCorp increased their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, RBC Bearings presently has an average rating of "Moderate Buy" and a consensus price target of $361.20.

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.