RBC Bearings Incorporated (NYSE:RBC) Position Lowered by GW&K Investment Management LLC

GW&K Investment Management LLC lessened its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 468,082 shares of the industrial products company's stock after selling 2,760 shares during the period. RBC Bearings comprises approximately 1.2% of GW&K Investment Management LLC's investment portfolio, making the stock its 5th largest holding. GW&K Investment Management LLC owned 1.49% of RBC Bearings worth $140,022,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd acquired a new stake in RBC Bearings in the fourth quarter valued at approximately $30,000. Golden State Wealth Management LLC acquired a new position in RBC Bearings during the fourth quarter worth $38,000. UMB Bank n.a. lifted its holdings in RBC Bearings by 84.9% during the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 79 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of RBC Bearings in the fourth quarter valued at about $82,000. Finally, Quarry LP increased its stake in shares of RBC Bearings by 1,003.7% during the third quarter. Quarry LP now owns 298 shares of the industrial products company's stock worth $89,000 after purchasing an additional 271 shares in the last quarter.

Insider Activity at RBC Bearings

In other news, CFO Robert M. Sullivan sold 8,000 shares of the 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael H. Ambrose sold 400 shares of RBC Bearings 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 transaction, the director now owns 6,728 shares of the company's stock, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on RBC shares. William Blair reaffirmed an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Bank of America lowered RBC Bearings from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. Truist Financial boosted 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, February 3rd. KeyCorp lifted their target price 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. Finally, Morgan Stanley upped 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, February 4th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $361.20.

RBC Bearings Trading Down 1.7 %

RBC Bearings stock traded down $5.88 during trading on Tuesday, hitting $350.08. The company had a trading volume of 67,954 shares, compared to its average volume of 144,024. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The company's 50 day simple moving average is $331.01 and its 200-day simple moving average is $312.92. RBC Bearings Incorporated has a 1-year low of $241.43 and a 1-year high of $372.83. The stock has a market cap of $11.00 billion, a price-to-earnings ratio of 48.09, a price-to-earnings-growth ratio of 4.42 and a beta of 1.58.

RBC Bearings 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.