Whittier Trust Co. of Nevada Inc. Boosts Holdings in RBC Bearings Incorporated (NYSE:RBC)

Whittier Trust Co. of Nevada Inc. increased its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,911 shares of the industrial products company's stock after buying an additional 1,341 shares during the period. Whittier Trust Co. of Nevada Inc. owned 0.09% of RBC Bearings worth $8,648,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whittier Trust Co. raised its position in shares of RBC Bearings by 3.6% in the 4th quarter. Whittier Trust Co. now owns 56,924 shares of the industrial products company's stock worth $17,027,000 after acquiring an additional 1,955 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in RBC Bearings by 7.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,899 shares of the industrial products company's stock worth $2,064,000 after purchasing an additional 494 shares during the period. Xponance Inc. raised its holdings in RBC Bearings by 10.9% in the fourth quarter. Xponance Inc. now owns 3,440 shares of the industrial products company's stock worth $1,029,000 after purchasing an additional 338 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in RBC Bearings by 7.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,350 shares of the industrial products company's stock valued at $2,199,000 after buying an additional 524 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of RBC Bearings by 2.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,243 shares of the industrial products company's stock valued at $970,000 after buying an additional 78 shares in the last quarter.

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Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. William Blair reissued an "outperform" rating on shares of RBC Bearings in a research report on Tuesday, November 26th. KeyCorp lifted their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Morgan Stanley boosted their price target 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 objective 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $361.20.

RBC Bearings Stock Down 0.7 %

Shares of RBC traded down $2.22 on Tuesday, hitting $332.89. 220,666 shares of the stock traded hands, compared to its average volume of 150,860. The company has a market capitalization of $10.46 billion, a PE ratio of 45.73, a P/E/G ratio of 4.42 and a beta of 1.72. RBC Bearings Incorporated has a one year low of $241.43 and a one year high of $372.83. 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 simple moving average of $343.42 and a 200 day simple moving average of $318.16.

Insiders Place Their Bets

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of RBC Bearings stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value of $145,156.00. Following the completion of the sale, the director now owns 6,728 shares of the company's stock, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert M. Sullivan sold 8,000 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 11,382 shares in the company, valued at $4,123,129.50. The trade was a 41.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is owned by insiders.

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.