Whittier Trust Co. Increases Holdings in RBC Bearings Incorporated (NYSE:RBC)

Whittier Trust Co. boosted its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,924 shares of the industrial products company's stock after purchasing an additional 1,955 shares during the period. Whittier Trust Co. owned about 0.18% of RBC Bearings worth $17,027,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in RBC Bearings during the 4th quarter valued at $30,000. Golden State Wealth Management LLC bought a new stake in shares of RBC Bearings during the fourth quarter worth $38,000. UMB Bank n.a. increased its stake in RBC Bearings by 84.9% in the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock worth $51,000 after buying an additional 79 shares during the period. Harbor Investment Advisory LLC bought a new stake in RBC Bearings during the 4th quarter valued at about $82,000. Finally, Quarry LP lifted its holdings in shares of RBC Bearings by 1,003.7% in the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company's stock worth $89,000 after buying an additional 271 shares during the period.

RBC Bearings Stock Up 1.5 %

Shares of RBC traded up $4.83 during midday trading on Monday, hitting $334.85. 149,173 shares of the company's stock traded hands, compared to its average volume of 150,875. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $10.52 billion, a price-to-earnings ratio of 46.00, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. RBC Bearings Incorporated has a 1 year low of $241.43 and a 1 year high of $372.83. The firm's fifty day moving average is $343.42 and its 200-day moving average is $318.16.

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Insider Activity at RBC Bearings

In other news, CFO Robert M. Sullivan sold 8,000 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $362.25, for a total transaction of $2,898,000.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 6,728 shares of the company's stock, valued at $2,441,523.92. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,900 shares of company stock valued at $3,963,031 in the last ninety days. Corporate insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. William Blair reiterated an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Truist Financial increased 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. 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, KeyCorp raised their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently 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.