RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Invesco Ltd.

Invesco Ltd. decreased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 234,586 shares of the industrial products company's stock after selling 3,330 shares during the quarter. Invesco Ltd. owned about 0.75% of RBC Bearings worth $70,174,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in RBC Bearings during the 4th quarter worth about $88,184,000. Raymond James Financial Inc. acquired a new position in shares of RBC Bearings in the fourth quarter valued at approximately $71,324,000. Vanguard Group Inc. increased its stake in RBC Bearings by 8.5% during 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 during the period. Blair William & Co. IL boosted its position in RBC Bearings by 89.4% in the 4th quarter. Blair William & Co. IL now owns 185,600 shares of the industrial products company's stock valued at $55,520,000 after buying an additional 87,624 shares during the period. Finally, DF Dent & Co. Inc. acquired a new position in shares of RBC Bearings in the fourth quarter worth $23,962,000.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Truist Financial cut their price target on RBC Bearings from $410.00 to $375.00 and set a "buy" rating on the stock in a report on Thursday. Morgan Stanley raised their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Finally, KeyCorp increased their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research 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 MarketBeat.com, RBC Bearings currently has a consensus rating of "Moderate Buy" and an average target price of $354.20.

Insider Activity

In related news, Director Michael H. Ambrose sold 400 shares of the company's stock in a transaction on 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 $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael J. Hartnett sold 2,500 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 10,900 shares of company stock valued at $3,963,031 over the last quarter. Corporate insiders own 2.60% of the company's stock.

RBC Bearings Stock Performance

Shares of RBC Bearings stock traded up $1.51 during trading hours on Friday, hitting $321.48. 277,875 shares of the company were exchanged, compared to its average volume of 162,171. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of 44.16, a P/E/G ratio of 4.42 and a beta of 1.60. The business has a 50-day moving average of $339.89 and a 200-day moving average of $322.21. RBC Bearings Incorporated has a 1 year low of $241.43 and a 1 year high of $372.83.

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.