Impact Capital Partners LLC acquired a new position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,065 shares of the industrial products company's stock, valued at approximately $618,000.
Other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in RBC Bearings during the 4th quarter worth about $30,000. Golden State Wealth Management LLC bought a new position in RBC Bearings during the 4th quarter worth about $38,000. UMB Bank n.a. increased its holdings in RBC Bearings by 84.9% during the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock worth $51,000 after purchasing an additional 79 shares in the last quarter. Harbor Investment Advisory LLC bought a new position in RBC Bearings during the 4th quarter worth about $82,000. Finally, Quarry LP increased its holdings in RBC Bearings by 1,003.7% during the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company's stock worth $89,000 after purchasing an additional 271 shares in the last quarter.
RBC Bearings Stock Performance
RBC Bearings stock traded down $12.15 during midday trading on Tuesday, reaching $334.36. 125,886 shares of the company's stock were exchanged, compared to its average volume of 144,054. 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 firm has a market cap of $10.50 billion, a price-to-earnings ratio of 45.93, a P/E/G ratio of 4.42 and a beta of 1.72. The stock's 50-day simple moving average is $339.75 and its 200 day simple moving average is $316.65.
Analysts Set New Price Targets
A number of equities analysts have issued reports on RBC shares. KeyCorp increased their target price on RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Morgan Stanley raised their price objective on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Bank of America cut RBC Bearings from a "buy" rating to a "neutral" rating and raised their price objective for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Truist Financial lifted their price target on RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, William Blair reiterated an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, RBC Bearings currently has a consensus rating of "Moderate Buy" and an average target price of $361.20.
Check Out Our Latest Research Report on RBC Bearings
Insider Buying and Selling
In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the firm'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 transaction of $2,898,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,382 shares in the company, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The stock was 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 $117,776,379.60. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,900 shares of company stock worth $3,963,031. Company insiders own 2.60% of the company's stock.
About RBC Bearings
(
Free Report)
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.
Featured Stories
Before you consider RBC Bearings, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RBC Bearings wasn't on the list.
While RBC Bearings currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
