American Century Companies Inc. Acquires 46,270 Shares of RBC Bearings Incorporated (NYSE:RBC)

American Century Companies Inc. raised its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 22.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 252,905 shares of the industrial products company's stock after acquiring an additional 46,270 shares during the quarter. American Century Companies Inc. owned about 0.81% of RBC Bearings worth $75,654,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. increased its holdings in RBC Bearings by 4.9% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 28,911 shares of the industrial products company's stock valued at $8,648,000 after purchasing an additional 1,341 shares during the last quarter. Whittier Trust Co. increased its stake in RBC Bearings by 3.6% in the fourth quarter. Whittier Trust Co. now owns 56,924 shares of the industrial products company's stock valued at $17,027,000 after purchasing an additional 1,955 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in RBC Bearings by 7.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,899 shares of the industrial products company's stock worth $2,064,000 after purchasing an additional 494 shares during the period. Xponance Inc. boosted its position in shares of RBC Bearings by 10.9% during the fourth quarter. Xponance Inc. now owns 3,440 shares of the industrial products company's stock worth $1,029,000 after purchasing an additional 338 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of RBC Bearings by 7.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 7,350 shares of the industrial products company's stock valued at $2,199,000 after buying an additional 524 shares during the period.

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Analysts Set New Price Targets

Several research analysts have weighed in on the company. KeyCorp lifted their target price on RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Morgan Stanley lifted their price objective on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Finally, Truist Financial increased their price objective 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. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $361.20.

Insiders Place Their Bets

In related news, 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 transaction, the chief financial officer now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael H. Ambrose sold 400 shares of the stock in a transaction dated 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 transaction, the director now directly owns 6,728 shares in the company, valued at $2,441,523.92. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,900 shares of company stock valued at $3,963,031 in the last 90 days. 2.60% of the stock is currently owned by insiders.

RBC Bearings Stock Down 2.0 %

RBC Bearings stock traded down $6.67 during mid-day trading on Friday, reaching $326.09. The company's stock had a trading volume of 86,191 shares, compared to its average volume of 155,690. The business's 50 day simple moving average is $344.99 and its 200 day simple moving average is $318.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. RBC Bearings Incorporated has a 12 month low of $241.43 and a 12 month high of $372.83. The company has a market capitalization of $10.24 billion, a price-to-earnings ratio of 44.79, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72.

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.