RBC Bearings Incorporated (NYSE:RBC) Shares Acquired by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC raised its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,390 shares of the industrial products company's stock after acquiring an additional 6,785 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.31% of RBC Bearings worth $29,133,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its position in RBC Bearings by 2,405.3% in the 4th quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company's stock valued at $142,000 after acquiring an additional 457 shares in the last quarter. Truist Financial Corp grew its position in shares of RBC Bearings by 1.0% during the fourth quarter. Truist Financial Corp now owns 20,268 shares of the industrial products company's stock worth $6,063,000 after buying an additional 199 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of RBC Bearings by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company's stock worth $273,000 after buying an additional 47 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of RBC Bearings by 5.5% during the fourth quarter. Principal Financial Group Inc. now owns 92,649 shares of the industrial products company's stock worth $27,715,000 after buying an additional 4,854 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of RBC Bearings during the fourth quarter worth about $7,785,000.

Insider Buying and Selling

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 11,382 shares in the company, valued at approximately $4,123,129.50. The trade was a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total value of $919,875.00. Following the completion of the sale, the chief executive officer now owns 320,088 shares of the company's stock, valued at approximately $117,776,379.60. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock worth $3,963,031 over the last 90 days. 2.60% of the stock is owned by insiders.

RBC Bearings Stock Down 3.1 %

RBC stock traded down $11.51 during trading on Friday, hitting $357.37. 89,278 shares of the company's stock were exchanged, compared to its average volume of 149,779. The business has a 50-day moving average price of $325.71 and a two-hundred day moving average price of $309.16. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 4.98 and a beta of 1.58. RBC Bearings Incorporated has a 52-week low of $241.43 and a 52-week high of $372.83. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RBC shares. Morgan Stanley boosted their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. William Blair reissued an "outperform" rating on shares of RBC Bearings in a research report on Tuesday, November 26th. KeyCorp boosted their price objective on RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. 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. Finally, Bank of America downgraded RBC Bearings from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, RBC Bearings has an average rating of "Moderate Buy" and an average price target 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.