Farther Finance Advisors LLC Lowers Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Farther Finance Advisors LLC trimmed its stake in RBC Bearings Incorporated (NYSE:RBC) by 9.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 361 shares of the industrial products company’s stock after selling 39 shares during the period. Farther Finance Advisors LLC’s holdings in RBC Bearings were worth $108,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in shares of RBC Bearings in the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC purchased a new stake in shares of RBC Bearings in the 4th quarter worth approximately $38,000. UMB Bank n.a. lifted its position in shares of 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 purchasing an additional 79 shares during the period. Harbor Investment Advisory LLC purchased a new stake in shares of RBC Bearings in the 4th quarter worth approximately $82,000. Finally, Quarry LP lifted its position 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 purchasing an additional 271 shares during the period.

RBC Bearings Trading Down 1.2 %

NYSE RBC opened at $329.52 on Friday. 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 Incorporated has a 52 week low of $241.43 and a 52 week high of $372.83. The firm has a market cap of $10.35 billion, a PE ratio of 45.26, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The company has a 50 day moving average price of $342.69 and a 200 day moving average price of $317.38.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $4,123,129.50. This represents a 41.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael H. Ambrose sold 400 shares of the company’s 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 transaction, the director now owns 6,728 shares in the company, valued at $2,441,523.92. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RBC. Morgan Stanley upped their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. KeyCorp boosted 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. Finally, Truist Financial boosted 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.