SG Americas Securities LLC Cuts Stake in RBC Bearings Incorporated (NYSE:RBC)

SG Americas Securities LLC lessened its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 76.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 990 shares of the industrial products company's stock after selling 3,291 shares during the quarter. SG Americas Securities LLC's holdings in RBC Bearings were worth $296,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jane Street Group LLC grew its position in RBC Bearings by 18.5% during the 3rd quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company's stock worth $4,951,000 after acquiring an additional 2,584 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in RBC Bearings by 41.6% during the third quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company's stock worth $8,896,000 after buying an additional 8,725 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in RBC Bearings by 17.3% in the third quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company's stock valued at $27,125,000 after buying an additional 13,395 shares during the period. Holocene Advisors LP boosted its position in RBC Bearings by 69.4% during the third quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company's stock valued at $3,711,000 after acquiring an additional 5,078 shares during the last quarter. Finally, State Street Corp grew its stake in RBC Bearings by 2.4% during the third quarter. State Street Corp now owns 845,175 shares of the industrial products company's stock worth $253,028,000 after purchasing an additional 19,962 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial increased their price target on RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a report on Monday. Morgan Stanley increased their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday. Bank of America lowered 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 report on Thursday, November 21st. William Blair reiterated an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. Finally, KeyCorp boosted their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a report on Monday. Four 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 stock presently has a consensus rating of "Moderate Buy" and an average target price of $348.50.

RBC Bearings Trading Down 1.3 %

RBC traded down $4.72 on Thursday, hitting $364.78. 141,302 shares of the company were exchanged, compared to its average volume of 163,033. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $372.51. 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 firm has a fifty day simple moving average of $318.64 and a two-hundred day simple moving average of $302.83. The stock has a market capitalization of $11.46 billion, a PE ratio of 50.11, a price-to-earnings-growth ratio of 4.81 and a beta of 1.58.

Insider Buying and Selling

In other news, Director Michael H. Ambrose sold 400 shares of the company'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 completion of the sale, 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 SEC, which is available at this link. 2.60% of the stock is owned by company insiders.

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.