Axiom Investors LLC DE Buys 14,916 Shares of RBC Bearings Incorporated (NYSE:RBC)

Axiom Investors LLC DE boosted its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 55.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,040 shares of the industrial products company's stock after buying an additional 14,916 shares during the period. Axiom Investors LLC DE owned approximately 0.13% of RBC Bearings worth $12,576,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in RBC Bearings in the 4th quarter worth approximately $88,184,000. Raymond James Financial Inc. bought a new stake in RBC Bearings during the fourth quarter worth about $71,324,000. Vanguard Group Inc. boosted its holdings in shares of RBC Bearings by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock worth $879,149,000 after purchasing an additional 229,466 shares in the last quarter. Blair William & Co. IL increased its position in shares of RBC Bearings by 89.4% during the 4th quarter. Blair William & Co. IL now owns 185,600 shares of the industrial products company's stock valued at $55,520,000 after purchasing an additional 87,624 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in RBC Bearings in the 3rd quarter worth approximately $20,657,000.

Insider Activity

In other news, CEO Michael J. Hartnett sold 2,500 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total value of $919,875.00. Following the transaction, the chief executive officer now owns 320,088 shares of the company's stock, valued at approximately $117,776,379.60. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the firm's stock in a transaction 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 directly owns 6,728 shares of the company's stock, 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 worth $3,963,031 over the last ninety days. Corporate insiders own 2.60% of the company's stock.

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RBC Bearings Price Performance

RBC Bearings stock traded down $19.74 during mid-day trading on Thursday, hitting $317.25. The stock had a trading volume of 117,180 shares, compared to its average volume of 150,742. RBC Bearings Incorporated has a one year low of $241.43 and a one year high of $372.83. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $9.96 billion, a P/E ratio of 43.67, a P/E/G ratio of 4.42 and a beta of 1.72. The firm's 50 day moving average is $345.94 and its 200 day moving average is $320.20.

Analyst Upgrades and Downgrades

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

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.