RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lowered its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,906,183 shares of the industrial products company's stock after selling 29,110 shares during the quarter. RBC Bearings makes up about 1.3% of Kayne Anderson Rudnick Investment Management LLC's holdings, making the stock its 21st biggest holding. Kayne Anderson Rudnick Investment Management LLC owned about 6.07% of RBC Bearings worth $570,216,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MetLife Investment Management LLC lifted its position in shares of RBC Bearings by 17.0% during the 4th quarter. MetLife Investment Management LLC now owns 17,559 shares of the industrial products company's stock worth $5,253,000 after purchasing an additional 2,552 shares during the last quarter. Curi RMB Capital LLC raised its stake in RBC Bearings by 1.8% in the fourth quarter. Curi RMB Capital LLC now owns 52,830 shares of the industrial products company's stock valued at $15,804,000 after buying an additional 925 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in RBC Bearings by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 358,438 shares of the industrial products company's stock valued at $107,221,000 after buying an additional 6,667 shares in the last quarter. First Trust Advisors LP boosted its position in shares of RBC Bearings by 63.5% during the 4th quarter. First Trust Advisors LP now owns 315,661 shares of the industrial products company's stock worth $94,427,000 after acquiring an additional 122,552 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of RBC Bearings by 6.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 20,500 shares of the industrial products company's stock valued at $6,132,000 after acquiring an additional 1,204 shares during the last quarter.

RBC Bearings Stock Performance

RBC Bearings stock traded up $7.21 during mid-day trading on Wednesday, reaching $325.72. 86,176 shares of the company were exchanged, compared to its average volume of 160,997. The firm's 50-day simple moving average is $337.28 and its two-hundred day simple moving average is $322.75. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83. The firm has a market cap of $10.23 billion, a PE ratio of 44.74, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43.

Insider Transactions at RBC Bearings

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the company's stock in a transaction 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 transaction, the chief financial officer now owns 11,382 shares in the company, valued at approximately $4,123,129.50. This represents a 41.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael H. Ambrose sold 400 shares of the firm'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 completion of the sale, the director now owns 6,728 shares of the company's stock, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,900 shares of company stock worth $3,963,031 over the last 90 days. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on RBC. Truist Financial decreased 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 increased their target price 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. Finally, KeyCorp boosted their price target 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $354.20.

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.