Blair William & Co. IL Raises Stake in RBC Bearings Incorporated (NYSE:RBC)

Blair William & Co. IL raised its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 89.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,600 shares of the industrial products company's stock after buying an additional 87,624 shares during the period. Blair William & Co. IL owned about 0.59% of RBC Bearings worth $55,520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RBC. Raymond James Financial Inc. bought a new position in RBC Bearings in the 4th quarter valued at $71,324,000. Vanguard Group Inc. grew its holdings in shares of RBC Bearings by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock worth $879,149,000 after purchasing an additional 229,466 shares during the last quarter. Erste Asset Management GmbH purchased a new position in RBC Bearings in the 3rd quarter worth about $20,657,000. Allspring Global Investments Holdings LLC lifted its holdings in 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 in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in RBC Bearings by 168.1% in the 4th quarter. Segall Bryant & Hamill LLC now owns 79,652 shares of the industrial products company's stock valued at $23,827,000 after buying an additional 49,937 shares during the period.

Insider Activity

In other news, CEO Michael J. Hartnett sold 2,500 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the transaction, the chief executive officer now owns 320,088 shares in the company, valued at $117,776,379.60. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert M. Sullivan sold 8,000 shares of the business'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 sale, the chief financial officer now directly owns 11,382 shares in the company, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,900 shares of company stock worth $3,963,031. Corporate insiders own 2.60% of the company's stock.

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RBC Bearings Stock Up 2.5 %

Shares of NYSE RBC traded up $8.16 during mid-day trading on Tuesday, reaching $329.93. 105,037 shares of the company were exchanged, compared to its average volume of 148,175. The firm has a 50-day moving average of $345.45 and a 200 day moving average of $319.75. RBC Bearings Incorporated has a 1 year low of $241.43 and a 1 year high of $372.83. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 45.32, a P/E/G ratio of 4.42 and a beta of 1.72.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RBC shares. Truist Financial lifted their price target 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. KeyCorp increased their price target on 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 lifted their price objective on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $361.20.

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.