RBC Bearings Incorporated (NYSE:RBC) Holdings Reduced by Natixis Advisors LLC

Natixis Advisors LLC reduced its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,547 shares of the industrial products company's stock after selling 897 shares during the quarter. Natixis Advisors LLC owned approximately 0.33% of RBC Bearings worth $31,274,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of RBC Bearings in the 4th quarter valued at $71,324,000. Jennison Associates LLC grew its stake in shares of RBC Bearings by 170.2% during the 3rd quarter. Jennison Associates LLC now owns 118,240 shares of the industrial products company's stock valued at $35,399,000 after buying an additional 74,474 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of RBC Bearings during the 3rd quarter valued at $20,657,000. Allspring Global Investments Holdings LLC grew its stake in shares of RBC Bearings by 39.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company's stock valued at $66,247,000 after buying an additional 62,706 shares during the period. Finally, Champlain Investment Partners LLC grew its stake in shares of RBC Bearings by 12.6% during the 3rd quarter. Champlain Investment Partners LLC now owns 365,054 shares of the industrial products company's stock valued at $109,290,000 after buying an additional 40,724 shares during the period.

RBC Bearings Stock Down 1.5 %

RBC stock traded down $5.09 during trading on Thursday, reaching $333.25. The stock had a trading volume of 214,688 shares, compared to its average volume of 149,824. RBC Bearings Incorporated has a 1-year low of $241.43 and a 1-year high of $372.83. 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 company has a market capitalization of $10.47 billion, a P/E ratio of 45.78, a PEG ratio of 4.42 and a beta of 1.72. The firm has a fifty day moving average price of $341.29 and a 200 day moving average price of $317.05.

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Insider Activity

In other news, Director Michael H. Ambrose sold 400 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value of $145,156.00. Following the sale, the director now owns 6,728 shares in the company, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their position. 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 the company's stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on RBC shares. Truist Financial boosted their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Bank of America cut shares of RBC Bearings from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. William Blair reissued an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. KeyCorp upped their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Morgan Stanley upped their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, RBC Bearings presently has an average rating of "Moderate Buy" and a consensus target price of $361.20.

RBC Bearings 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.