Dynamic Technology Lab Private Ltd Sells 1,788 Shares of RBC Bearings Incorporated (NYSE:RBC)

Dynamic Technology Lab Private Ltd cut its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 60.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,169 shares of the industrial products company's stock after selling 1,788 shares during the period. Dynamic Technology Lab Private Ltd's holdings in RBC Bearings were worth $350,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Jane Street Group LLC increased its position in RBC Bearings by 18.5% in the third quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company's stock worth $4,951,000 after buying an additional 2,584 shares during the last quarter. State Street Corp boosted its holdings in RBC Bearings by 2.4% in the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company's stock valued at $253,028,000 after purchasing an additional 19,962 shares during the period. Bank of New York Mellon Corp increased 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 worth $59,581,000 after acquiring an additional 1,103 shares during the last quarter. GAMMA Investing LLC lifted its position 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 during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of RBC Bearings by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company's stock worth $144,490,000 after buying an additional 5,040 shares during the last quarter.

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RBC Bearings Stock Down 0.4 %

Shares of RBC traded down $1.43 during trading hours on Tuesday, hitting $333.61. The company had a trading volume of 17,157 shares, compared to its average volume of 161,000. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of 45.88, a P/E/G ratio of 4.42 and a beta of 1.60. The firm has a fifty day moving average price of $343.06 and a 200-day moving average price of $321.87. RBC Bearings Incorporated has a 52-week low of $241.43 and a 52-week high of $372.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43.

Insider Transactions at RBC Bearings

In other news, Director Michael H. Ambrose sold 400 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the transaction, the director now directly owns 6,728 shares in the company, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the business's stock in a transaction dated 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 sale, the chief financial officer now owns 11,382 shares of the company's stock, 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. Over the last 90 days, insiders have sold 10,900 shares of company stock worth $3,963,031. Corporate insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

RBC has been the subject of several research reports. Morgan Stanley upped their target price on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Truist Financial lifted their price objective on RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Finally, KeyCorp increased 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. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, RBC Bearings has a consensus rating of "Moderate Buy" and a consensus target price 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.