Vanguard Group Inc. Purchases 229,466 Shares of RBC Bearings Incorporated (NYSE:RBC)

Vanguard Group Inc. increased its position in RBC Bearings Incorporated (NYSE:RBC) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,938,923 shares of the industrial products company’s stock after purchasing an additional 229,466 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of RBC Bearings worth $879,149,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Torray Investment Partners LLC boosted its position in shares of RBC Bearings by 0.3% during the 4th quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock valued at $2,533,000 after acquiring an additional 28 shares in the last quarter. Curated Wealth Partners LLC grew its stake in shares of RBC Bearings by 1.6% in the 4th quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock valued at $595,000 after purchasing an additional 32 shares during the period. Argonautica Private Wealth Management Inc. raised its holdings in shares of RBC Bearings by 3.4% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company’s stock worth $418,000 after buying an additional 46 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of RBC Bearings by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock valued at $273,000 after purchasing an additional 47 shares in the last quarter. Finally, Norden Group LLC boosted its position in RBC Bearings by 6.7% in the fourth quarter. Norden Group LLC now owns 780 shares of the industrial products company’s stock valued at $233,000 after buying an additional 49 shares in the last quarter.

RBC Bearings Price Performance

RBC stock opened at $326.09 on Friday. The stock has a 50-day moving average price of $345.26 and a two-hundred day moving average price of $319.26. RBC Bearings Incorporated has a 1 year low of $241.43 and a 1 year high of $372.83. The stock has a market cap of $10.24 billion, a PE ratio of 44.79, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Morgan Stanley increased their target price on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Truist Financial lifted 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. Finally, KeyCorp upped their target price 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. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $361.20.

Insider Activity

In related news, CFO Robert M. Sullivan sold 8,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $362.25, for a total value of $2,898,000.00. Following the completion of the transaction, the chief financial officer now owns 11,382 shares of the company’s stock, valued at approximately $4,123,129.50. This trade represents a 41.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings 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 owns 320,088 shares in the company, valued at $117,776,379.60. The trade was a 0.77 % 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 over the last ninety days. Insiders own 2.60% of the company’s stock.

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.