RBC Bearings Incorporated (NYSE:RBC) Shares Purchased by Corebridge Financial Inc.

Corebridge Financial Inc. increased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,325 shares of the industrial products company's stock after purchasing an additional 969 shares during the quarter. Corebridge Financial Inc. owned 0.11% of RBC Bearings worth $10,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake 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 buying an additional 229,466 shares in the last quarter. State Street Corp raised its position in RBC Bearings by 2.4% during the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company's stock valued at $253,028,000 after purchasing an additional 19,962 shares in the last quarter. Geode Capital Management LLC lifted its stake in RBC Bearings by 1.1% in the third quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company's stock worth $144,490,000 after acquiring an additional 5,040 shares during the period. Port Capital LLC boosted its stake in shares of RBC Bearings by 0.9% during the third quarter. Port Capital LLC now owns 385,101 shares of the industrial products company's stock valued at $115,292,000 after purchasing an additional 3,525 shares in the last quarter. Finally, Maren Capital LLC raised its position in shares of RBC Bearings by 3.8% in the 3rd quarter. Maren Capital LLC now owns 379,113 shares of the industrial products company's stock worth $113,499,000 after acquiring an additional 13,812 shares in the last quarter.

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Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RBC shares. Morgan Stanley raised their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. KeyCorp raised their price target on RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Truist Financial upped their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $361.20.

Insider Buying and Selling at RBC Bearings

In other news, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the sale, the chief executive officer now owns 320,088 shares of the company's stock, valued at approximately $117,776,379.60. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were 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 owns 11,382 shares in the company, valued at $4,123,129.50. This represents a 41.28 % 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. 2.60% of the stock is owned by insiders.

RBC Bearings Price Performance

Shares of NYSE:RBC traded down $3.87 during midday trading on Monday, hitting $321.73. The company had a trading volume of 272,271 shares, compared to its average volume of 156,155. The business's 50-day simple moving average is $345.45 and its 200-day simple moving average is $319.75. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 44.19, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83.

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.