RBC Bearings Incorporated (NYSE:RBC) Position Boosted by Next Century Growth Investors LLC

Next Century Growth Investors LLC grew its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,589 shares of the industrial products company's stock after purchasing an additional 4,311 shares during the period. RBC Bearings makes up about 1.5% of Next Century Growth Investors LLC's holdings, making the stock its 15th largest holding. Next Century Growth Investors LLC owned about 0.21% of RBC Bearings worth $19,620,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in RBC Bearings during the 4th quarter worth approximately $88,184,000. Raymond James Financial Inc. purchased a new stake in shares of RBC Bearings during the fourth quarter worth $71,324,000. Vanguard Group Inc. raised its stake 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 valued at $879,149,000 after acquiring an additional 229,466 shares in the last quarter. Blair William & Co. IL raised its stake in shares of RBC Bearings by 89.4% in the fourth quarter. Blair William & Co. IL now owns 185,600 shares of the industrial products company's stock valued at $55,520,000 after acquiring an additional 87,624 shares in the last quarter. Finally, DF Dent & Co. Inc. purchased a new position in RBC Bearings in the fourth quarter valued at $23,962,000.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RBC. Truist Financial increased their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. KeyCorp raised their price target 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, Morgan Stanley increased 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 issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $361.20.

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RBC Bearings Price Performance

Shares of NYSE RBC traded down $12.63 on Wednesday, hitting $319.98. The company's stock had a trading volume of 214,705 shares, compared to its average volume of 161,858. The stock has a 50 day moving average of $342.42 and a 200-day moving average of $321.94. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 43.95, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60. RBC Bearings Incorporated has a 12-month low of $241.43 and a 12-month high of $372.83. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

Insider Transactions at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of the firm's stock in a transaction that occurred on 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 directly owns 6,728 shares of the company's stock, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, 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. Insiders sold a total of 10,900 shares of company stock worth $3,963,031 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

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.