Bridge City Capital LLC Boosts Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Bridge City Capital LLC grew its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,796 shares of the industrial products company's stock after acquiring an additional 1,732 shares during the quarter. RBC Bearings comprises approximately 1.9% of Bridge City Capital LLC's investment portfolio, making the stock its 12th largest holding. Bridge City Capital LLC owned about 0.08% of RBC Bearings worth $7,118,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in RBC Bearings during the 4th quarter valued at approximately $71,324,000. Erste Asset Management GmbH acquired a new position in shares of RBC Bearings in the 3rd quarter valued at $20,657,000. Allspring Global Investments Holdings LLC raised its stake in RBC Bearings by 39.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company's stock worth $66,247,000 after acquiring an additional 62,706 shares during the last quarter. American Century Companies Inc. lifted its position in RBC Bearings by 22.4% during the 4th quarter. American Century Companies Inc. now owns 252,905 shares of the industrial products company's stock worth $75,654,000 after acquiring an additional 46,270 shares during the period. Finally, Champlain Investment Partners LLC grew its stake in RBC Bearings by 12.6% during the 3rd quarter. Champlain Investment Partners LLC now owns 365,054 shares of the industrial products company's stock valued at $109,290,000 after purchasing an additional 40,724 shares during the last quarter.

Remove Ads

Insider Activity

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the 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 owns 11,382 shares in the company, valued at approximately $4,123,129.50. This represents a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 320,088 shares of the company's stock, valued at $117,776,379.60. This trade represents a 0.77 % 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 in the last ninety days. Company insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

RBC has been the subject of several research analyst reports. William Blair restated an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Truist Financial raised their price target 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. Morgan Stanley upped 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, KeyCorp raised their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $361.20.

RBC Bearings Stock Performance

Shares of NYSE RBC traded down $2.22 during midday trading on Tuesday, reaching $332.89. 220,666 shares of the stock were exchanged, compared to its average volume of 150,860. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The firm has a 50-day simple moving average of $343.42 and a two-hundred day simple moving average of $318.16. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83. The firm has a market cap of $10.46 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 4.42 and a beta of 1.72.

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.