Corient Private Wealth LLC Sells 1,392 Shares of RBC Bearings Incorporated (NYSE:RBC)

Corient Private Wealth LLC lowered its position in RBC Bearings Incorporated (NYSE:RBC) by 12.6% in the 4th quarter, Holdings Channel reports. The firm owned 9,688 shares of the industrial products company’s stock after selling 1,392 shares during the quarter. Corient Private Wealth LLC’s holdings in RBC Bearings were worth $2,898,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RBC. R Squared Ltd bought a new stake in shares of RBC Bearings during the 4th quarter worth approximately $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. boosted its stake in shares of RBC Bearings by 84.9% during the fourth 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 shares of RBC Bearings in the fourth quarter worth about $82,000. Finally, Quarry LP grew its holdings in shares of RBC Bearings by 1,003.7% in the third 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 last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RBC shares. Morgan Stanley lifted their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. KeyCorp lifted their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” 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. Finally, Truist Financial lifted 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.20.

Insider Buying and Selling at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total transaction 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. This trade represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.95, for a total value of $919,875.00. Following the completion of the transaction, the chief executive officer now 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. In the last 90 days, insiders have sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is currently owned by corporate insiders.

RBC Bearings Stock Performance

Shares of RBC stock opened at $329.52 on Monday. The firm has a market cap of $10.35 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 4.42 and a beta of 1.72. RBC Bearings Incorporated has a 52-week low of $241.43 and a 52-week high of $372.83. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $342.69 and its 200 day moving average is $317.81.

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.