Champlain Investment Partners LLC Sells 142,394 Shares of RBC Bearings Incorporated (NYSE:RBC)

Champlain Investment Partners LLC trimmed its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 39.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 222,660 shares of the industrial products company's stock after selling 142,394 shares during the quarter. Champlain Investment Partners LLC owned approximately 0.71% of RBC Bearings worth $66,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Torray Investment Partners LLC raised its holdings in shares of RBC Bearings by 0.3% during the 4th quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company's stock valued at $2,533,000 after purchasing an additional 28 shares in the last quarter. Curated Wealth Partners LLC increased 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 buying an additional 32 shares during the last quarter. Townsquare Capital LLC raised its holdings in RBC Bearings by 0.6% during the fourth quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company's stock valued at $1,694,000 after buying an additional 36 shares in the last quarter. Argonautica Private Wealth Management Inc. lifted its position in shares of RBC Bearings by 3.4% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company's stock worth $418,000 after buying an additional 46 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of RBC Bearings by 5.4% during 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.

Insider Buying and Selling at RBC Bearings

In related news, CFO Robert M. Sullivan sold 8,000 shares of the firm's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 11,382 shares of the company's stock, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the business'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 completion of the sale, the director now directly owns 6,728 shares in the company, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock valued at $3,963,031 in the last quarter. Corporate insiders own 2.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on RBC. KeyCorp upped their target price on RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a research report 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 report on Tuesday, February 4th. Finally, Truist Financial decreased their price target on shares of RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $354.20.

RBC Bearings Stock Performance

Shares of RBC traded up $5.26 during trading hours on Tuesday, reaching $318.82. 39,581 shares of the company traded hands, compared to its average volume of 161,089. RBC Bearings Incorporated has a 1-year low of $241.43 and a 1-year high of $372.83. The stock has a market cap of $10.01 billion, a P/E ratio of 43.84, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60. The stock's fifty day moving average is $338.91 and its 200 day moving average is $322.75. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43.

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.