XTX Topco Ltd Makes New $388,000 Investment in RBC Bearings Incorporated (NYSE:RBC)

XTX Topco Ltd purchased a new stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,296 shares of the industrial products company's stock, valued at approximately $388,000.

A number of other institutional investors have also modified their holdings of RBC. R Squared Ltd bought a new position in RBC Bearings in the fourth quarter worth about $30,000. Golden State Wealth Management LLC bought a new stake in shares of RBC Bearings in the 4th quarter worth approximately $38,000. UMB Bank n.a. boosted its position in RBC Bearings by 84.9% during the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 79 shares during the period. Harbor Investment Advisory LLC bought a new position in RBC Bearings during the 4th quarter worth $82,000. Finally, Venturi Wealth Management LLC grew its stake in RBC Bearings by 2,405.3% during the 4th quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company's stock worth $142,000 after buying an additional 457 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have issued reports on RBC. Morgan Stanley raised their target price on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. KeyCorp lifted their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Truist Financial decreased their target price on shares of RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $354.20.

Insider Activity at RBC Bearings

In related news, 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 sale, the director now directly owns 6,728 shares of the company's stock, valued at $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 11,382 shares in the company, valued at approximately $4,123,129.50. This trade represents a 41.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,900 shares of company stock worth $3,963,031 over the last quarter. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Stock Performance

Shares of RBC opened at $319.23 on Wednesday. RBC Bearings Incorporated has a 52-week low of $241.43 and a 52-week high of $372.83. The firm has a market capitalization of $10.03 billion, a PE ratio of 43.85, a P/E/G ratio of 4.42 and a beta of 1.60. The firm has a 50-day moving average price of $338.05 and a 200 day moving average price of $322.73. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

RBC Bearings Company Profile

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.

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