DF Dent & Co. Inc. Buys New Shares in RBC Bearings Incorporated (NYSE:RBC)

DF Dent & Co. Inc. purchased a new position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 80,103 shares of the industrial products company's stock, valued at approximately $23,962,000. DF Dent & Co. Inc. owned approximately 0.26% of RBC Bearings as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in RBC. Jane Street Group LLC increased its position in shares of RBC Bearings by 18.5% during the third quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company's stock worth $4,951,000 after buying an additional 2,584 shares during the period. Holocene Advisors LP raised its holdings in RBC Bearings by 69.4% during the third quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company's stock worth $3,711,000 after buying an additional 5,078 shares during the last quarter. State Street Corp boosted its stake 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 during the last quarter. Bank of New York Mellon Corp lifted its holdings in RBC Bearings by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company's stock worth $59,581,000 after acquiring an additional 1,103 shares during the period. Finally, Geode Capital Management LLC boosted 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 valued at $144,490,000 after acquiring an additional 5,040 shares during the last quarter.

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Insiders Place Their Bets

In related news, CEO Michael J. Hartnett sold 2,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 320,088 shares of the company's stock, valued at approximately $117,776,379.60. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert M. Sullivan sold 8,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 11,382 shares of the company's stock, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,900 shares of company stock valued at $3,963,031. Company insiders own 2.60% of the company's stock.

RBC Bearings Stock Up 2.0 %

Shares of NYSE:RBC traded up $6.06 on Tuesday, hitting $313.79. 46,295 shares of the company traded hands, compared to its average volume of 158,945. The company has a market cap of $9.86 billion, a PE ratio of 43.27, a PEG ratio of 4.42 and a beta of 1.60. The stock has a 50 day simple moving average of $345.73 and a 200-day simple moving average of $320.79. RBC Bearings Incorporated has a 52 week low of $241.43 and a 52 week high of $372.83. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. KeyCorp increased their target price 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. Finally, Truist Financial upped their price target 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 given a buy rating to the stock. According to data from MarketBeat.com, RBC Bearings currently has an average rating of "Moderate Buy" and a consensus price target of $361.20.

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.