RBC Bearings Incorporated (NYSE:RBC) Stock Holdings Increased by Jones Financial Companies Lllp

Jones Financial Companies Lllp boosted its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 196.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 677 shares of the industrial products company’s stock after purchasing an additional 449 shares during the period. Jones Financial Companies Lllp’s holdings in RBC Bearings were worth $203,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBC. Norden Group LLC grew its holdings in RBC Bearings by 6.7% during the fourth quarter. Norden Group LLC now owns 780 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 49 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in RBC Bearings by 13.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 755 shares of the industrial products company’s stock valued at $224,000 after purchasing an additional 90 shares during the last quarter. US Bancorp DE grew its holdings in RBC Bearings by 7.8% during the fourth quarter. US Bancorp DE now owns 7,387 shares of the industrial products company’s stock valued at $2,210,000 after purchasing an additional 533 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in RBC Bearings by 5.1% during the fourth quarter. Mutual of America Capital Management LLC now owns 16,500 shares of the industrial products company’s stock valued at $4,936,000 after purchasing an additional 795 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in RBC Bearings by 14.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,186 shares of the industrial products company’s stock valued at $5,739,000 after purchasing an additional 2,418 shares during the last quarter.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the business’s stock in a transaction 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 sale, the director now owns 6,728 shares of the company’s stock, valued at $2,441,523.92. The trade was a 5.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Hartnett sold 2,500 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the completion of the sale, the chief executive officer now directly owns 320,088 shares in the company, valued at $117,776,379.60. This trade represents a 0.77 % decrease in their position. 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 90 days. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Stock Down 1.8 %

Shares of RBC stock opened at $330.93 on Friday. The stock has a market cap of $10.39 billion, a P/E ratio of 45.46, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The stock has a fifty day moving average price of $337.45 and a 200 day moving average price of $315.58. RBC Bearings Incorporated has a one year low of $241.43 and a one year high of $372.83.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Morgan Stanley increased their price target on RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. Truist Financial raised their price objective 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. William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Finally, KeyCorp raised their price objective 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $361.20.

RBC Bearings 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.