RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC lessened its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 739,877 shares of the industrial products company's stock after selling 965 shares during the quarter. RBC Bearings comprises about 2.9% of Conestoga Capital Advisors LLC's investment portfolio, making the stock its 9th largest position. Conestoga Capital Advisors LLC owned approximately 2.36% of RBC Bearings worth $221,327,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company's stock worth $28,000 after purchasing an additional 75 shares during the last quarter. R Squared Ltd bought a new position in RBC Bearings during the fourth quarter worth about $30,000. Harbor Investment Advisory LLC bought a new stake in shares of RBC Bearings in the 4th quarter valued at about $82,000. Blue Trust Inc. raised its position in shares of RBC Bearings by 541.9% in the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company's stock valued at $83,000 after acquiring an additional 233 shares during the period. Finally, Quarry LP boosted its stake in RBC Bearings by 1,003.7% during the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company's stock worth $89,000 after acquiring an additional 271 shares during the last quarter.

RBC Bearings Stock Down 1.3 %

Shares of NYSE RBC traded down $4.72 during midday trading on Thursday, reaching $364.78. The company's stock had a trading volume of 141,302 shares, compared to its average volume of 163,033. RBC Bearings Incorporated has a fifty-two week low of $240.36 and a fifty-two week high of $372.51. The stock has a 50 day simple moving average of $319.15 and a 200-day simple moving average of $303.26. The stock has a market capitalization of $11.46 billion, a price-to-earnings ratio of 50.11, a PEG ratio of 4.81 and a beta of 1.58. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a report on Tuesday. Bank of America cut RBC Bearings from a "buy" rating to a "neutral" rating and boosted their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Truist Financial raised their price target on RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a research report on Monday. William Blair reiterated an "outperform" rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Finally, KeyCorp lifted their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $348.50.

Insiders Place Their Bets

In other news, Director Michael H. Ambrose sold 400 shares of the company's stock in a transaction dated 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 represents a 5.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.60% of the company's stock.

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.