RBC Bearings Incorporated (NYSE:RBC) is Geneva Capital Management LLC's 5th Largest Position

Geneva Capital Management LLC cut its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 583,665 shares of the industrial products company's stock after selling 6,985 shares during the period. RBC Bearings makes up 3.0% of Geneva Capital Management LLC's holdings, making the stock its 5th biggest holding. Geneva Capital Management LLC owned approximately 1.86% of RBC Bearings worth $174,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in RBC. R Squared Ltd purchased a new position in RBC Bearings during the 4th quarter valued at about $30,000. Golden State Wealth Management LLC acquired a new stake in shares of RBC Bearings during the fourth quarter worth about $38,000. UMB Bank n.a. boosted its stake 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 during the period. Harbor Investment Advisory LLC purchased a new position in shares of RBC Bearings in the fourth quarter valued at approximately $82,000. Finally, Quarry LP grew its holdings in shares of RBC Bearings by 1,003.7% in the third quarter. Quarry LP now owns 298 shares of the industrial products company's stock valued at $89,000 after purchasing an additional 271 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

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Insiders Place Their Bets

In related news, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael H. Ambrose sold 400 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of the transaction, the director now owns 6,728 shares of the company's stock, valued at $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 valued at $3,963,031. 2.60% of the stock is owned by corporate insiders.

RBC Bearings Stock Down 2.3 %

NYSE RBC traded down $7.98 during trading on Monday, reaching $345.03. 144,208 shares of the company's stock were exchanged, compared to its average volume of 142,434. RBC Bearings Incorporated has a 1 year low of $241.43 and a 1 year high of $372.83. The stock has a market cap of $10.84 billion, a P/E ratio of 47.39, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. 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 company has a 50 day moving average price of $334.91 and a two-hundred day moving average price of $314.72.

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.