RBC Bearings Incorporated (NYSE:RBC) Position Reduced by Royce & Associates LP

Royce & Associates LP lowered its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,797 shares of the industrial products company's stock after selling 14,307 shares during the period. Royce & Associates LP owned about 0.45% of RBC Bearings worth $41,819,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RBC. R Squared Ltd bought a new stake in shares of RBC Bearings in the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC bought a new stake in RBC Bearings in the fourth quarter valued at $38,000. UMB Bank n.a. lifted its stake in RBC Bearings by 84.9% in the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock valued at $51,000 after buying an additional 79 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of RBC Bearings during the fourth quarter valued at $82,000. Finally, Quarry LP grew its position 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 acquiring an additional 271 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RBC. William Blair reissued an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Truist Financial boosted 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. Morgan Stanley raised their target price on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Bank of America lowered RBC Bearings from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Finally, KeyCorp raised their price target on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $361.20.

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RBC Bearings Price Performance

NYSE RBC traded down $5.09 on Thursday, reaching $333.25. 214,714 shares of the stock traded hands, compared to its average volume of 149,824. RBC Bearings Incorporated has a 12 month low of $241.43 and a 12 month high of $372.83. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The firm's fifty day simple moving average is $341.29 and its 200 day simple moving average is $317.05. The company has a market cap of $10.47 billion, a price-to-earnings ratio of 45.78, a P/E/G ratio of 4.42 and a beta of 1.72.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $362.25, for a total value of $2,898,000.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value of $145,156.00. Following the sale, 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 three months, insiders sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is owned by insiders.

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.