Barclays PLC Buys 1,997 Shares of RBC Bearings Incorporated (NYSE:RBC)

Barclays PLC lifted its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,027 shares of the industrial products company's stock after buying an additional 1,997 shares during the period. Barclays PLC owned about 0.07% of RBC Bearings worth $6,889,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RBC. R Squared Ltd acquired a new position in RBC Bearings during the fourth quarter valued at approximately $30,000. Golden State Wealth Management LLC acquired a new stake in shares of RBC Bearings in the 4th quarter valued at approximately $38,000. UMB Bank n.a. grew its stake in shares of RBC Bearings by 84.9% in the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock valued at $51,000 after buying an additional 79 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in RBC Bearings in the fourth quarter valued at $82,000. Finally, Venturi Wealth Management LLC grew its position in shares of RBC Bearings by 2,405.3% in the 4th quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company's stock valued at $142,000 after acquiring an additional 457 shares during the period.

RBC Bearings Stock Performance

Shares of RBC Bearings stock traded down $2.39 on Monday, hitting $324.74. The stock had a trading volume of 218,827 shares, compared to its average volume of 161,836. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of 44.61, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60. The business's 50 day moving average is $335.77 and its two-hundred day moving average is $323.96. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a twelve month low of $243.50 and a twelve month high of $372.83.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RBC. 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 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 report on Tuesday, February 4th. Finally, Truist Financial dropped their price target on RBC Bearings from $410.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, RBC Bearings has a consensus rating of "Moderate Buy" and an average target price of $354.20.

Insider Buying and Selling at RBC Bearings

In related news, CEO Michael J. Hartnett sold 2,500 shares of the company's stock in a transaction dated 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 directly owns 320,088 shares in the company, valued at approximately $117,776,379.60. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael H. Ambrose sold 400 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,900 shares of company stock valued at $3,963,031 in the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

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.