Envestnet Portfolio Solutions Inc. Purchases 78 Shares of RBC Bearings Incorporated (NYSE:RBC)

Envestnet Portfolio Solutions Inc. lifted its position in RBC Bearings Incorporated (NYSE:RBC) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,243 shares of the industrial products company’s stock after purchasing an additional 78 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in RBC Bearings were worth $970,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. R Squared Ltd bought a new stake in RBC Bearings during the 4th quarter worth about $30,000. Golden State Wealth Management LLC bought a new stake in RBC Bearings during the 4th quarter worth about $38,000. UMB Bank n.a. grew its holdings 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 worth $51,000 after acquiring an additional 79 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in RBC Bearings during the 4th quarter worth about $82,000. Finally, Quarry LP grew its holdings in RBC Bearings by 1,003.7% during the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 271 shares during the last quarter.

RBC Bearings Stock Performance

Shares of NYSE:RBC opened at $329.52 on Monday. The company has a market capitalization of $10.35 billion, a price-to-earnings ratio of 45.26, a P/E/G ratio of 4.42 and a beta of 1.72. The firm’s 50 day simple moving average is $342.69 and its 200 day simple moving average is $317.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week high of $372.83.

Wall Street Analyst Weigh In

A number of brokerages have commented on RBC. KeyCorp increased their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Truist Financial upped their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley upped their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $361.20.

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 value of $145,156.00. Following the sale, the director now directly owns 6,728 shares in the company, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the firm’s 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 sale, the chief financial officer now owns 11,382 shares in the company, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,900 shares of company stock worth $3,963,031 in the last ninety days. Company insiders own 2.60% of the company’s stock.

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.