RBC Bearings Incorporated (NYSE:RBC) Shares Bought by Inceptionr LLC

Inceptionr LLC increased its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 65.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,952 shares of the industrial products company's stock after buying an additional 1,169 shares during the period. Inceptionr LLC's holdings in RBC Bearings were worth $883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in RBC Bearings during the 4th quarter valued at about $30,000. Golden State Wealth Management LLC bought a new position in shares of RBC Bearings during the fourth quarter valued at approximately $38,000. UMB Bank n.a. increased its holdings in RBC Bearings by 84.9% during the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock valued at $51,000 after buying an additional 79 shares during the period. Harbor Investment Advisory LLC purchased a new position in RBC Bearings during the fourth quarter valued at approximately $82,000. Finally, Quarry LP raised its stake in RBC Bearings by 1,003.7% in the third quarter. Quarry LP now owns 298 shares of the industrial products company's stock worth $89,000 after buying an additional 271 shares in the last quarter.

RBC Bearings Stock Performance

RBC Bearings stock traded down $7.98 during mid-day trading on Monday, reaching $345.03. 144,208 shares of the company traded hands, compared to its average volume of 142,434. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week high of $372.83. The firm's fifty day moving average is $334.91 and its two-hundred day moving average is $314.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 47.39, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72.

Remove Ads

Insider Activity at RBC Bearings

In related news, CEO Michael J. Hartnett sold 2,500 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the completion of the transaction, the chief executive officer now owns 320,088 shares of the company's stock, valued at $117,776,379.60. This trade represents a 0.77 % decrease in their ownership of the stock. The sale 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 business'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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,900 shares of company stock valued at $3,963,031 in the last ninety days. Company insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on RBC shares. KeyCorp increased their target price on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Truist Financial raised their price objective on RBC Bearings from $351.00 to $410.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Bank of America downgraded shares of RBC Bearings from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. William Blair restated an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. Finally, Morgan Stanley boosted their price objective 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $361.20.

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.