Victory Capital Management Inc. Lowers Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Victory Capital Management Inc. lessened its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,771 shares of the industrial products company's stock after selling 3,244 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of RBC Bearings worth $6,513,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Jane Street Group LLC grew its position in RBC Bearings by 18.5% in the 3rd quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company's stock worth $4,951,000 after purchasing an additional 2,584 shares during the period. Segall Bryant & Hamill LLC grew its position in RBC Bearings by 41.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company's stock worth $8,896,000 after purchasing an additional 8,725 shares during the period. Holocene Advisors LP grew its position in RBC Bearings by 69.4% in the 3rd quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company's stock worth $3,711,000 after purchasing an additional 5,078 shares during the period. State Street Corp grew its position in RBC Bearings by 2.4% in the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company's stock worth $253,028,000 after purchasing an additional 19,962 shares during the period. Finally, Citigroup Inc. grew its position in RBC Bearings by 7.0% in the 3rd quarter. Citigroup Inc. now owns 27,157 shares of the industrial products company's stock worth $8,130,000 after purchasing an additional 1,770 shares during the period.

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Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Morgan Stanley lifted their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. 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. William Blair reiterated an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Bank of America cut shares of RBC Bearings from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, Truist Financial lifted their price target on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, RBC Bearings has a consensus rating of "Moderate Buy" and an average price target of $361.20.

RBC Bearings Trading Down 3.5 %

NYSE:RBC traded down $12.15 during mid-day trading on Tuesday, hitting $334.36. 125,877 shares of the stock traded hands, compared to its average volume of 149,268. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 45.93, a PEG ratio of 4.42 and a beta of 1.72. RBC Bearings Incorporated has a 52 week low of $241.43 and a 52 week high of $372.83. The firm's 50 day moving average is $339.75 and its two-hundred day moving average is $316.65. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

Insider Activity at RBC Bearings

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were 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 directly owns 11,382 shares of the company's stock, valued at $4,123,129.50. The trade was a 41.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of the sale, the director now directly owns 6,728 shares of the company's stock, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,900 shares of company stock worth $3,963,031. 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.