Charles Schwab Investment Management Inc. Buys 20,229 Shares of RBC Bearings Incorporated (NYSE:RBC)

Charles Schwab Investment Management Inc. raised its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 316,240 shares of the industrial products company's stock after acquiring an additional 20,229 shares during the period. Charles Schwab Investment Management Inc. owned about 1.01% of RBC Bearings worth $94,600,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RBC. Jane Street Group LLC raised its stake in shares of RBC Bearings by 18.5% in the third quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company's stock valued at $4,951,000 after purchasing an additional 2,584 shares in the last quarter. Segall Bryant & Hamill LLC increased its holdings in RBC Bearings by 41.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company's stock valued at $8,896,000 after buying an additional 8,725 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of RBC Bearings by 17.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company's stock valued at $27,125,000 after buying an additional 13,395 shares in the last quarter. Holocene Advisors LP lifted its holdings in shares of RBC Bearings by 69.4% during the 3rd quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company's stock worth $3,711,000 after acquiring an additional 5,078 shares during the period. Finally, State Street Corp lifted its holdings in shares of RBC Bearings by 2.4% during the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company's stock worth $253,028,000 after acquiring an additional 19,962 shares during the period.

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Insider Buying and Selling

In other news, Director Michael H. Ambrose sold 400 shares of RBC Bearings stock in a transaction 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 sale, the director now directly owns 6,728 shares of the company's stock, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 320,088 shares in the company, valued at $117,776,379.60. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,900 shares of company stock worth $3,963,031 in the last quarter. Insiders own 2.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on RBC. Bank of America cut shares of RBC Bearings from a "buy" rating to a "neutral" rating and raised their price target for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. William Blair reissued an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. Truist Financial upped their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Morgan Stanley lifted their price target 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 boosted their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, RBC Bearings currently has an average rating of "Moderate Buy" and a consensus target price of $361.20.

RBC Bearings Price Performance

Shares of NYSE RBC traded down $4.82 during trading on Wednesday, reaching $336.59. The company had a trading volume of 161,267 shares, compared to its average volume of 143,212. RBC Bearings Incorporated has a 52 week low of $241.43 and a 52 week high of $372.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The business's 50 day moving average price is $337.45 and its 200-day moving average price is $315.58. The stock has a market cap of $10.57 billion, a PE ratio of 46.24, 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.