Davis R M Inc. Sells 1,264 Shares of RBC Bearings Incorporated (NYSE:RBC)

Davis R M Inc. reduced its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,885 shares of the industrial products company's stock after selling 1,264 shares during the period. Davis R M Inc. owned approximately 0.14% of RBC Bearings worth $13,128,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in RBC Bearings by 1.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,830 shares of the industrial products company's stock worth $1,445,000 after acquiring an additional 87 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of RBC Bearings in the fourth quarter worth $265,000. Callan Family Office LLC grew its stake in RBC Bearings by 251.7% in the 4th quarter. Callan Family Office LLC now owns 2,416 shares of the industrial products company's stock worth $723,000 after acquiring an additional 1,729 shares during the period. Inceptionr LLC increased its position in RBC Bearings by 65.6% during the fourth quarter. Inceptionr LLC now owns 2,952 shares of the industrial products company's stock worth $883,000 after purchasing an additional 1,169 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of RBC Bearings during the 4th quarter valued at $71,324,000.

Insider Buying and Selling at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of the company'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 completion of the transaction, the director now directly owns 6,728 shares in the company, valued at $2,441,523.92. This represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $362.25, for a total value of $2,898,000.00. Following the completion of the sale, the chief financial officer now owns 11,382 shares in the company, valued at approximately $4,123,129.50. This represents a 41.28 % 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 worth $3,963,031 over the last 90 days. Insiders own 2.60% of the company's stock.

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RBC Bearings Stock Down 1.7 %

Shares of RBC stock traded down $5.93 on Wednesday, hitting $335.48. The company's stock had a trading volume of 84,465 shares, compared to its average volume of 141,448. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 46.09, a P/E/G ratio of 4.42 and a beta of 1.72. 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 price is $336.70 and its 200-day moving average price is $315.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. KeyCorp lifted their target price on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. William Blair restated an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. Morgan Stanley increased their price target on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Bank of America lowered shares of 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. Finally, Truist Financial raised their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the company 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 given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.