Bridge City Capital LLC Increases Position in RBC Bearings Incorporated (NYSE:RBC)

Bridge City Capital LLC increased its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,796 shares of the industrial products company's stock after purchasing an additional 1,732 shares during the period. RBC Bearings accounts for about 1.9% of Bridge City Capital LLC's holdings, making the stock its 12th biggest position. Bridge City Capital LLC owned about 0.08% of RBC Bearings worth $7,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Torray Investment Partners LLC boosted its stake in shares of RBC Bearings by 0.3% during the fourth quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company's stock valued at $2,533,000 after acquiring an additional 28 shares during the last quarter. Curated Wealth Partners LLC boosted its position in RBC Bearings by 1.6% during the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company's stock worth $595,000 after acquiring an additional 32 shares during the last quarter. Argonautica Private Wealth Management Inc. grew its stake in RBC Bearings by 3.4% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company's stock worth $418,000 after acquiring an additional 46 shares during the period. CIBC Asset Management Inc raised its holdings in RBC Bearings by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company's stock valued at $273,000 after acquiring an additional 47 shares during the last quarter. Finally, Norden Group LLC raised its holdings in RBC Bearings by 6.7% in the 4th quarter. Norden Group LLC now owns 780 shares of the industrial products company's stock valued at $233,000 after acquiring an additional 49 shares during the last quarter.

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Insiders Place Their Bets

In related news, 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 sale, the director now directly owns 6,728 shares in the company, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $2,898,000.00. Following the transaction, the chief financial officer now directly owns 11,382 shares in the company, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock worth $3,963,031 over the last ninety days. 2.60% of the stock is owned by company insiders.

RBC Bearings Trading Up 0.3 %

NYSE:RBC traded up $0.99 on Thursday, hitting $333.35. 164,031 shares of the stock were exchanged, compared to its average volume of 151,699. The stock has a fifty day moving average of $344.99 and a 200-day moving average of $318.72. The stock has a market cap of $10.47 billion, a PE ratio of 45.79, a PEG ratio of 4.42 and a beta of 1.72. 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 fifty-two week low of $241.43 and a fifty-two week high of $372.83.

Analyst Upgrades and Downgrades

RBC has been the subject of a number of recent analyst reports. Truist Financial lifted their price objective on RBC Bearings from $351.00 to $410.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. KeyCorp lifted their price target on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Morgan Stanley increased 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. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.