RBC Bearings Incorporated (NYSE:RBC) Stake Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,830 shares of the industrial products company’s stock after buying an additional 87 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RBC Bearings were worth $1,445,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, CFO Robert M. Sullivan sold 8,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $362.25, for a total transaction of $2,898,000.00. Following the transaction, the chief financial officer now owns 11,382 shares of the company’s stock, 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 SEC, which is available through this hyperlink. 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. Over the last quarter, insiders have sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is owned by company insiders.

RBC Bearings Price Performance

Shares of RBC Bearings stock opened at $334.36 on Wednesday. The firm has a fifty day simple moving average of $340.49 and a 200-day simple moving average of $316.90. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a 1-year low of $241.43 and a 1-year high of $372.83. 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.

Analysts Set New Price Targets

RBC has been the subject of a number of analyst reports. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Truist Financial boosted their price objective on 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 reissued an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. KeyCorp boosted their price objective on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley boosted their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, RBC Bearings has an average rating of “Moderate Buy” and a consensus target price 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.