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

American Century Companies Inc. grew its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 22.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 252,905 shares of the industrial products company's stock after purchasing an additional 46,270 shares during the period. American Century Companies Inc. owned approximately 0.81% of RBC Bearings worth $75,654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of RBC. State Street Corp grew its stake in RBC Bearings by 2.4% during the third quarter. State Street Corp now owns 845,175 shares of the industrial products company's stock worth $253,028,000 after buying an additional 19,962 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of RBC Bearings by 1.1% during the third quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company's stock valued at $144,490,000 after purchasing an additional 5,040 shares during the last quarter. Port Capital LLC increased its holdings in shares of RBC Bearings by 0.9% in the third quarter. Port Capital LLC now owns 385,101 shares of the industrial products company's stock valued at $115,292,000 after purchasing an additional 3,525 shares in the last quarter. Maren Capital LLC lifted its holdings in RBC Bearings by 3.8% during the 3rd quarter. Maren Capital LLC now owns 379,113 shares of the industrial products company's stock worth $113,499,000 after buying an additional 13,812 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in RBC Bearings by 6.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 316,240 shares of the industrial products company's stock valued at $94,600,000 after buying an additional 20,229 shares during the last quarter.

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Wall Street Analyst Weigh In

RBC has been the topic of a number of research reports. KeyCorp upped their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. William Blair reaffirmed an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Morgan Stanley boosted their price objective on shares of 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 target price on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a 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 company. According to data from MarketBeat, RBC Bearings presently has an average rating of "Moderate Buy" and an average price target of $361.20.

Insider Activity

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 RBC Bearings stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total transaction of $145,156.00. Following the transaction, the director now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is owned by insiders.

RBC Bearings Stock Down 0.7 %

NYSE RBC traded down $2.22 on Tuesday, reaching $332.89. The company had a trading volume of 220,666 shares, compared to its average volume of 151,023. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of 45.73, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The company's fifty day moving average is $343.42 and its 200-day moving average is $318.16. RBC Bearings Incorporated has a 1-year low of $241.43 and a 1-year high of $372.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43.

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.