RBC Bearings Incorporated (NYSE:RBC) Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,366 shares of the industrial products company's stock after purchasing an additional 4,367 shares during the period. Rhumbline Advisers owned approximately 0.26% of RBC Bearings worth $24,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Jane Street Group LLC raised its holdings in shares of RBC Bearings by 18.5% during the third 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. Segall Bryant & Hamill LLC raised its holdings in shares of RBC Bearings by 41.6% during the third quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company's stock worth $8,896,000 after purchasing an additional 8,725 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of RBC Bearings by 17.3% during the third quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company's stock worth $27,125,000 after purchasing an additional 13,395 shares during the last quarter. Holocene Advisors LP raised its holdings in shares of RBC Bearings by 69.4% during the third quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company's stock worth $3,711,000 after purchasing an additional 5,078 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of RBC Bearings by 2.4% during the third quarter. State Street Corp now owns 845,175 shares of the industrial products company's stock worth $253,028,000 after purchasing an additional 19,962 shares during the last quarter.

Wall Street Analyst Weigh In

RBC has been the subject of several recent research reports. William Blair reissued an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. KeyCorp raised their price target on shares of 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 boosted 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. Bank of America cut 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 research note on Thursday, November 21st. Finally, Morgan Stanley boosted their target price 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 issued a buy rating to the company. Based on data from MarketBeat.com, RBC Bearings presently has an average rating of "Moderate Buy" and a consensus target price of $361.20.

Insider Transactions at RBC Bearings

In other news, CEO Michael J. Hartnett sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total value of $919,875.00. Following the transaction, the chief executive officer now directly owns 320,088 shares in the company, valued at approximately $117,776,379.60. This represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 in the company, valued at approximately $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. In the last three months, insiders have sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is currently owned by insiders.

RBC Bearings Trading Down 3.2 %

NYSE:RBC traded down $11.75 on Friday, hitting $357.14. The stock had a trading volume of 40,512 shares, compared to its average volume of 148,289. 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 $11.22 billion, a price-to-earnings ratio of 49.06, a PEG ratio of 4.98 and a beta of 1.58. The company has a fifty day moving average price of $325.12 and a two-hundred day moving average price of $308.59. RBC Bearings Incorporated has a 1-year low of $241.43 and a 1-year high of $372.83.

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.