RBC Bearings Incorporated (NYSE:RBC) Stock Position Lowered by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC trimmed its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 12.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 128,589 shares of the industrial products company's stock after selling 18,855 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.41% of RBC Bearings worth $38,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. DF Dent & Co. Inc. bought a new stake in RBC Bearings in the fourth quarter valued at $23,962,000. Nicolet Advisory Services LLC boosted its stake in RBC Bearings by 10.1% during the 4th quarter. Nicolet Advisory Services LLC now owns 2,656 shares of the industrial products company's stock valued at $782,000 after purchasing an additional 243 shares during the period. Huntington National Bank grew its position in RBC Bearings by 18.3% in the 4th quarter. Huntington National Bank now owns 622 shares of the industrial products company's stock worth $186,000 after purchasing an additional 96 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of RBC Bearings in the fourth quarter valued at approximately $222,000. Finally, Geode Capital Management LLC raised its holdings in shares of RBC Bearings by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 507,771 shares of the industrial products company's stock valued at $151,944,000 after buying an additional 25,268 shares during the last quarter.

Insider Buying and Selling at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value of $145,156.00. Following the sale, the director now directly owns 6,728 shares in the company, valued at $2,441,523.92. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 owns 11,382 shares of the company's stock, valued at $4,123,129.50. The trade was a 41.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is owned by insiders.

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Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley raised their target price on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. KeyCorp lifted their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Truist Financial increased their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the company a "buy" rating in a research 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 stock. Based on data from MarketBeat, RBC Bearings currently has an average rating of "Moderate Buy" and an average price target of $361.20.

RBC Bearings Price Performance

Shares of RBC Bearings stock traded down $9.38 during trading on Thursday, hitting $324.01. The stock had a trading volume of 59,205 shares, compared to its average volume of 160,568. The business has a fifty day moving average of $345.28 and a two-hundred day moving average of $321.07. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week high of $372.83. The firm has a market cap of $10.18 billion, a P/E ratio of 44.67, a PEG ratio of 4.42 and a beta of 1.60. 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 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.