6,337 Shares in RBC Bearings Incorporated (NYSE:RBC) Acquired by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC purchased a new position in RBC Bearings Incorporated (NYSE:RBC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,337 shares of the industrial products company's stock, valued at approximately $1,896,000.

Several other large investors also recently bought and sold shares of RBC. Jane Street Group LLC increased its stake in RBC Bearings by 18.5% during the 3rd quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company's stock worth $4,951,000 after buying an additional 2,584 shares during the period. Holocene Advisors LP lifted its stake in shares of RBC Bearings by 69.4% in the third quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company's stock worth $3,711,000 after acquiring an additional 5,078 shares in the last quarter. State Street Corp grew its stake in RBC Bearings by 2.4% during the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company's stock valued at $253,028,000 after purchasing an additional 19,962 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in RBC Bearings by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company's stock worth $59,581,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of RBC Bearings by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company's stock valued at $144,490,000 after purchasing an additional 5,040 shares in the last quarter.

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Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley lifted their target price on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. KeyCorp raised their target price on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Truist Financial increased their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Three investment 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.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $361.20.

RBC Bearings Trading Down 3.4 %

NYSE RBC traded down $10.79 during trading hours on Friday, hitting $306.40. The company's stock had a trading volume of 22,572 shares, compared to its average volume of 149,555. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83. The stock has a fifty day moving average of $345.97 and a 200 day moving average of $320.18. The firm has a market capitalization of $9.62 billion, a P/E ratio of 42.09, a PEG ratio of 4.42 and a beta of 1.60.

Insider Activity at RBC Bearings

In related news, CFO Robert M. Sullivan sold 8,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $362.25, for a total value 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 represents a 41.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the director now owns 6,728 shares in the company, 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. Over the last three months, insiders have sold 10,900 shares of company stock worth $3,963,031. Corporate insiders own 2.60% of the company's stock.

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.