Stephens Investment Management Group LLC Trims Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Stephens Investment Management Group LLC trimmed its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 305,035 shares of the industrial products company's stock after selling 1,484 shares during the period. RBC Bearings accounts for 1.2% of Stephens Investment Management Group LLC's holdings, making the stock its 16th largest position. Stephens Investment Management Group LLC owned 0.97% of RBC Bearings worth $91,248,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. State Street Corp boosted its stake in shares of RBC Bearings by 2.4% during the third quarter. State Street Corp now owns 845,175 shares of the industrial products company's stock valued at $253,028,000 after purchasing an additional 19,962 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of RBC Bearings by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company's stock worth $221,793,000 after purchasing an additional 12,375 shares during the period. Geneva Capital Management LLC grew its stake in shares of RBC Bearings by 1.4% in the third quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company's stock worth $176,829,000 after purchasing an additional 8,012 shares during the last quarter. Geode Capital Management LLC raised its position in shares of RBC Bearings by 1.1% during the third quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company's stock worth $144,490,000 after acquiring an additional 5,040 shares during the last quarter. Finally, Port Capital LLC lifted its position in shares of RBC Bearings by 0.9% in the 3rd quarter. Port Capital LLC now owns 385,101 shares of the industrial products company's stock worth $115,292,000 after purchasing an additional 3,525 shares during the period.

RBC Bearings Stock Performance

RBC stock traded up $1.12 on Tuesday, hitting $364.76. The company had a trading volume of 70,819 shares, compared to its average volume of 156,809. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a 12-month low of $241.43 and a 12-month high of $372.51. The stock has a market cap of $11.46 billion, a price-to-earnings ratio of 50.11, a P/E/G ratio of 4.90 and a beta of 1.58. The stock's 50-day simple moving average is $320.23 and its 200 day simple moving average is $304.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RBC shares. Bank of America downgraded RBC Bearings from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. William Blair reissued an "outperform" rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Morgan Stanley lifted their price objective 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. KeyCorp increased their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Truist Financial lifted their price target on RBC Bearings from $351.00 to $410.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, RBC Bearings has a consensus rating of "Moderate Buy" and a consensus price target of $348.50.

Insiders Place Their Bets

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now owns 6,728 shares in the company, valued at $2,441,523.92. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Hartnett sold 2,500 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.95, for a total transaction of $919,875.00. Following the completion of the transaction, the chief executive officer now directly owns 320,088 shares in the company, valued at $117,776,379.60. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

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.