Maren Capital LLC Acquires 24,690 Shares of RBC Bearings Incorporated (NYSE:RBC)

Maren Capital LLC boosted its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 403,803 shares of the industrial products company's stock after buying an additional 24,690 shares during the quarter. RBC Bearings accounts for approximately 9.2% of Maren Capital LLC's portfolio, making the stock its 3rd largest holding. Maren Capital LLC owned 1.29% of RBC Bearings worth $120,794,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of RBC Bearings in the 4th quarter worth about $30,000. Golden State Wealth Management LLC acquired a new position in RBC Bearings during the fourth quarter worth about $38,000. UMB Bank n.a. lifted its holdings in shares of RBC Bearings by 84.9% in the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 79 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in RBC Bearings during the 4th quarter valued at $82,000. Finally, Quarry LP boosted its stake in shares of RBC Bearings by 1,003.7% during the third quarter. Quarry LP now owns 298 shares of the industrial products company's stock valued at $89,000 after acquiring an additional 271 shares during the last quarter.

RBC Bearings Trading Up 2.2 %

NYSE:RBC traded up $7.27 on Friday, hitting $332.52. 167,681 shares of the stock were exchanged, compared to its average volume of 161,261. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week high of $372.83. The stock has a market cap of $10.44 billion, a PE ratio of 45.68, a PEG ratio of 4.42 and a beta of 1.60. The stock has a fifty day moving average of $343.75 and a 200-day moving average of $321.48.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RBC. KeyCorp lifted their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Morgan Stanley boosted their price target on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Finally, Truist Financial raised their price objective on RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $361.20.

Insider Activity at RBC Bearings

In related news, CFO Robert M. Sullivan sold 8,000 shares of the firm's stock in a transaction dated 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 directly owns 11,382 shares in the company, valued at approximately $4,123,129.50. This trade represents a 41.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael H. Ambrose sold 400 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the completion of the transaction, the director now owns 6,728 shares of the company's stock, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,900 shares of company stock worth $3,963,031. Company insiders own 2.60% of the company's stock.

About RBC Bearings

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.