Bessemer Group Inc. Buys 1,048 Shares of RBC Bearings Incorporated (NYSE:RBC)

Bessemer Group Inc. increased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,937 shares of the industrial products company's stock after purchasing an additional 1,048 shares during the quarter. Bessemer Group Inc. owned 0.25% of RBC Bearings worth $23,315,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Jane Street Group LLC lifted its holdings in shares of RBC Bearings by 18.5% in the 3rd quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company's stock worth $4,951,000 after purchasing an additional 2,584 shares during the last quarter. State Street Corp increased its holdings in RBC Bearings by 2.4% in the third quarter. State Street Corp now owns 845,175 shares of the industrial products company's stock worth $253,028,000 after buying an additional 19,962 shares during the last quarter. Bank of New York Mellon Corp grew its stake in RBC Bearings by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company's stock valued at $59,581,000 after buying an additional 1,103 shares during the last quarter. Geode Capital Management LLC increased its stake in RBC Bearings by 1.1% during the third quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company's stock valued at $144,490,000 after acquiring an additional 5,040 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in RBC Bearings by 17.5% during the fourth quarter. GAMMA Investing LLC now owns 517 shares of the industrial products company's stock valued at $155,000 after purchasing an additional 77 shares in the last quarter.

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Insider Buying and Selling

In other RBC Bearings news, CEO Michael J. Hartnett sold 2,500 shares of the 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 transaction, the chief executive officer now directly owns 320,088 shares of the company's stock, valued at $117,776,379.60. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert M. Sullivan sold 8,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $362.25, for a total transaction of $2,898,000.00. Following the transaction, the chief financial officer now directly owns 11,382 shares of the company's stock, valued at $4,123,129.50. The trade was a 41.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,900 shares of company stock valued at $3,963,031. Corporate insiders own 2.60% of the company's stock.

RBC Bearings Trading Down 1.4 %

Shares of RBC traded down $4.71 during midday trading on Wednesday, reaching $327.90. The company had a trading volume of 29,632 shares, compared to its average volume of 160,578. 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 $10.30 billion, a PE ratio of 45.04, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60. RBC Bearings Incorporated has a 1-year low of $241.43 and a 1-year high of $372.83. The firm has a 50 day simple moving average of $342.42 and a 200-day simple moving average of $321.94.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. KeyCorp boosted their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Morgan Stanley increased their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Finally, Truist Financial lifted their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.