Sei Investments Co. Acquires 18,282 Shares of RBC Bearings Incorporated (NYSE:RBC)

Sei Investments Co. grew its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,337 shares of the industrial products company's stock after acquiring an additional 18,282 shares during the quarter. Sei Investments Co. owned about 0.42% of RBC Bearings worth $39,886,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in RBC Bearings in the fourth quarter worth approximately $71,324,000. Erste Asset Management GmbH bought a new stake in shares of RBC Bearings in the third quarter worth $20,657,000. Allspring Global Investments Holdings LLC grew its holdings in shares of RBC Bearings by 39.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company's stock worth $66,247,000 after acquiring an additional 62,706 shares during the period. American Century Companies Inc. lifted its holdings in RBC Bearings by 22.4% in the fourth quarter. American Century Companies Inc. now owns 252,905 shares of the industrial products company's stock valued at $75,654,000 after acquiring an additional 46,270 shares during the period. Finally, Strategic Financial Concepts LLC bought a new stake in shares of RBC Bearings during the 4th quarter valued at about $7,785,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RBC shares. William Blair reiterated an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. KeyCorp lifted their price target 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. Morgan Stanley upped their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Finally, Truist Financial lifted their target price on RBC Bearings from $351.00 to $410.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, RBC Bearings presently has an average rating of "Moderate Buy" and an average price target of $361.20.

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Insider Buying and Selling

In related news, CFO Robert M. Sullivan sold 8,000 shares of the company's stock in a transaction 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 transaction, the chief financial officer now owns 11,382 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the completion of the sale, the chief executive officer now owns 320,088 shares in the company, valued at approximately $117,776,379.60. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,900 shares of company stock valued at $3,963,031. Corporate insiders own 2.60% of the company's stock.

RBC Bearings Price Performance

Shares of RBC Bearings stock traded down $2.22 during trading hours on Tuesday, hitting $332.89. The company's stock had a trading volume of 220,666 shares, compared to its average volume of 151,023. The company has a market cap of $10.46 billion, a PE ratio of 45.73, 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 business has a 50 day moving average price of $343.42 and a two-hundred day moving average price of $318.16. RBC Bearings Incorporated has a 12-month low of $241.43 and a 12-month high of $372.83.

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.