Segall Bryant & Hamill LLC Raises Stake in RBC Bearings Incorporated (NYSE:RBC)

Segall Bryant & Hamill LLC raised its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 168.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,652 shares of the industrial products company's stock after purchasing an additional 49,937 shares during the period. Segall Bryant & Hamill LLC owned 0.25% of RBC Bearings worth $23,827,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of RBC Bearings in the 4th quarter worth about $71,324,000. Vanguard Group Inc. grew its holdings in shares of RBC Bearings by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock valued at $879,149,000 after buying an additional 229,466 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of RBC Bearings during the third quarter valued at approximately $20,657,000. Allspring Global Investments Holdings LLC lifted its position in RBC Bearings by 39.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company's stock valued at $66,247,000 after acquiring an additional 62,706 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in RBC Bearings by 22.4% during the 4th quarter. American Century Companies Inc. now owns 252,905 shares of the industrial products company's stock valued at $75,654,000 after purchasing an additional 46,270 shares during the last quarter.

Insider Activity

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the company's stock in a transaction that occurred on 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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael H. Ambrose sold 400 shares of RBC Bearings stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total transaction of $145,156.00. Following the transaction, the director now owns 6,728 shares in the company, valued at $2,441,523.92. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,900 shares of company stock valued at $3,963,031 in the last quarter. 2.60% of the stock is currently owned by insiders.

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RBC Bearings Stock Performance

RBC Bearings stock traded down $6.67 during mid-day trading on Friday, reaching $326.09. 86,191 shares of the stock traded hands, compared to its average volume of 155,690. The stock has a market capitalization of $10.24 billion, a PE ratio of 44.79, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The business's 50-day moving average is $345.26 and its 200-day moving average is $319.26. RBC Bearings Incorporated has a 12-month low of $241.43 and a 12-month high of $372.83.

Analysts Set New Price Targets

Several research firms have recently weighed in on RBC. KeyCorp boosted 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. Morgan Stanley boosted their target price on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Finally, Truist Financial raised their price target on shares of RBC Bearings from $351.00 to $410.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $361.20.

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.