Peak6 LLC Takes Position in RBC Bearings Incorporated (NYSE:RBC)

PEAK6 LLC purchased a new position in RBC Bearings Incorporated (NYSE:RBC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,734 shares of the industrial products company's stock, valued at approximately $519,000.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of RBC Bearings by 162.2% in the third quarter. Barclays PLC now owns 21,030 shares of the industrial products company's stock worth $6,296,000 after buying an additional 13,010 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in RBC Bearings by 1.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company's stock valued at $1,084,000 after acquiring an additional 58 shares in the last quarter. Tidal Investments LLC boosted its stake in RBC Bearings by 36.0% during the 3rd quarter. Tidal Investments LLC now owns 3,016 shares of the industrial products company's stock valued at $903,000 after purchasing an additional 798 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of RBC Bearings by 6.2% in the 3rd quarter. Synovus Financial Corp now owns 13,830 shares of the industrial products company's stock worth $4,141,000 after purchasing an additional 805 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of RBC Bearings by 6.7% in the third quarter. Retirement Systems of Alabama now owns 38,245 shares of the industrial products company's stock worth $11,450,000 after purchasing an additional 2,405 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. KeyCorp lifted their price objective on RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Morgan Stanley lifted their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Finally, Truist Financial decreased their price objective on shares of RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $354.20.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 2,500 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was 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 approximately $117,776,379.60. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael H. Ambrose sold 400 shares of the firm's stock in a transaction dated 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 directly 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 ninety days, insiders sold 10,900 shares of company stock valued at $3,963,031. Insiders own 2.60% of the company's stock.

RBC Bearings Stock Performance

Shares of NYSE RBC traded down $2.87 during midday trading on Friday, hitting $327.26. 153,271 shares of the company's stock traded hands, compared to its average volume of 161,481. The firm has a fifty day moving average of $335.77 and a 200 day moving average of $323.35. RBC Bearings Incorporated has a 1 year low of $243.50 and a 1 year high of $372.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 44.95, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60.

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.