Cerity Partners LLC Decreases Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Cerity Partners LLC trimmed its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,227 shares of the industrial products company's stock after selling 1,013 shares during the quarter. Cerity Partners LLC's holdings in RBC Bearings were worth $3,062,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RBC. Norges Bank purchased a new stake in shares of RBC Bearings during the fourth quarter valued at about $88,184,000. Raymond James Financial Inc. purchased a new stake in shares of RBC Bearings during the 4th quarter valued at $71,324,000. Vanguard Group Inc. boosted its position 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 grew its stake in 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 worth $55,520,000 after buying an additional 87,624 shares during the last quarter. Finally, DF Dent & Co. Inc. acquired a new position in RBC Bearings during the 4th quarter valued at about $23,962,000.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the completion of the transaction, the director now directly owns 6,728 shares of the company's stock, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the firm'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 sale, the chief financial officer now directly owns 11,382 shares in the company, valued at $4,123,129.50. The trade was a 41.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RBC. Morgan Stanley boosted their price target on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Truist Financial cut their price target on shares of RBC Bearings from $410.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, KeyCorp boosted their price objective 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. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $354.20.

RBC Bearings Stock Performance

Shares of NYSE:RBC traded up $1.51 during midday trading on Friday, reaching $321.48. The company's stock had a trading volume of 277,875 shares, compared to its average volume of 162,171. 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 stock has a fifty day moving average of $339.89 and a 200 day moving average of $322.21. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83. The firm has a market capitalization of $10.10 billion, a PE ratio of 44.16, a P/E/G ratio of 4.42 and a beta of 1.60.

RBC Bearings Company 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.