Zions Bancorporation N.A. Raises Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Zions Bancorporation N.A. boosted its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 21.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,094 shares of the industrial products company's stock after acquiring an additional 1,609 shares during the quarter. Zions Bancorporation N.A.'s holdings in RBC Bearings were worth $2,720,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in RBC Bearings by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 296,011 shares of the industrial products company's stock valued at $88,620,000 after buying an additional 2,859 shares in the last quarter. Raymond James Trust N.A. grew its position in shares of RBC Bearings by 2.6% during the 3rd quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company's stock valued at $633,000 after acquiring an additional 53 shares during the period. Citigroup Inc. increased its stake in shares of RBC Bearings by 7.0% in the 3rd quarter. Citigroup Inc. now owns 27,157 shares of the industrial products company's stock valued at $8,130,000 after purchasing an additional 1,770 shares in the last quarter. Cerity Partners LLC raised its holdings in RBC Bearings by 34.4% in the 3rd quarter. Cerity Partners LLC now owns 11,240 shares of the industrial products company's stock worth $3,365,000 after purchasing an additional 2,876 shares during the period. Finally, Centaurus Financial Inc. boosted its position in RBC Bearings by 233.1% during the third quarter. Centaurus Financial Inc. now owns 2,851 shares of the industrial products company's stock worth $854,000 after purchasing an additional 1,995 shares in the last quarter.

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Analyst Ratings Changes

A number of equities analysts have weighed in on RBC shares. Truist Financial upped their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Morgan Stanley raised their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, KeyCorp lifted their price target on RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, RBC Bearings presently has a consensus rating of "Moderate Buy" and a consensus target price of $361.20.

RBC Bearings Price Performance

Shares of RBC stock traded down $6.67 during trading hours on Friday, reaching $326.09. The company had a trading volume of 86,191 shares, compared to its average volume of 155,690. RBC Bearings Incorporated has a 12-month low of $241.43 and a 12-month high of $372.83. The company has a market capitalization of $10.24 billion, a price-to-earnings ratio of 44.79, a PEG ratio of 4.42 and a beta of 1.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The stock has a fifty day moving average of $345.26 and a 200-day moving average of $319.26.

Insider Transactions at RBC Bearings

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $362.25, for a total transaction of $2,898,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,382 shares in the company, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael H. Ambrose sold 400 shares of the business's stock in a transaction that occurred 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,900 shares of company stock worth $3,963,031 in the last 90 days. 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.