Greenhouse Funds LLLP Raises Stake in RBC Bearings Incorporated (NYSE:RBC)

Greenhouse Funds LLLP grew its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 17.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 155,885 shares of the industrial products company's stock after acquiring an additional 23,306 shares during the period. RBC Bearings comprises 1.9% of Greenhouse Funds LLLP's investment portfolio, making the stock its 25th biggest holding. Greenhouse Funds LLLP owned approximately 0.50% of RBC Bearings worth $46,631,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of RBC Bearings by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock valued at $879,149,000 after purchasing an additional 229,466 shares during the period. Geode Capital Management LLC boosted its position in RBC Bearings by 5.2% in the 4th 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 period. Maren Capital LLC grew its stake in shares of RBC Bearings by 6.5% in the fourth quarter. Maren Capital LLC now owns 403,803 shares of the industrial products company's stock worth $120,794,000 after acquiring an additional 24,690 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of RBC Bearings by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 358,438 shares of the industrial products company's stock worth $107,221,000 after acquiring an additional 6,667 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of RBC Bearings by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 316,240 shares of the industrial products company's stock worth $94,600,000 after acquiring an additional 20,229 shares during the period.

RBC Bearings Stock Down 0.9 %

Shares of NYSE:RBC traded down $2.87 on Friday, hitting $327.26. 153,271 shares of the company's stock were exchanged, compared to its average volume of 161,481. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. RBC Bearings Incorporated has a 1-year low of $243.50 and a 1-year high of $372.83. The company has a market capitalization of $10.28 billion, a PE ratio of 44.95, a P/E/G ratio of 4.42 and a beta of 1.60. The firm's 50-day moving average is $335.77 and its 200 day moving average is $323.35.

Analysts Set New Price Targets

Several research firms recently commented on RBC. Truist Financial lowered their target price on RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Morgan Stanley boosted 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. Finally, KeyCorp raised 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. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $354.20.

Insider Activity at RBC Bearings

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total transaction of $145,156.00. Following the transaction, the director now 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction dated 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 sale, the chief financial officer now owns 11,382 shares in the company, 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. Insiders sold 10,900 shares of company stock valued at $3,963,031 over the last three months. 2.60% of the stock is owned by corporate insiders.

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.