Marshall Wace LLP Buys New Stake in RBC Bearings Incorporated (NYSE:RBC)

Marshall Wace LLP purchased a new position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,202 shares of the industrial products company's stock, valued at approximately $360,000.

A number of other hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in RBC Bearings by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company's stock worth $59,581,000 after purchasing an additional 1,103 shares during the period. GAMMA Investing LLC boosted its position in shares of RBC Bearings by 17.5% in the fourth quarter. GAMMA Investing LLC now owns 517 shares of the industrial products company's stock worth $155,000 after buying an additional 77 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of RBC Bearings by 39.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company's stock valued at $66,247,000 after buying an additional 62,706 shares in the last quarter. Callan Family Office LLC raised its holdings in shares of RBC Bearings by 251.7% during the 4th quarter. Callan Family Office LLC now owns 2,416 shares of the industrial products company's stock valued at $723,000 after buying an additional 1,729 shares during the period. Finally, Advantage Alpha Capital Partners LP lifted its position in RBC Bearings by 35.3% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 18,514 shares of the industrial products company's stock worth $5,545,000 after acquiring an additional 4,835 shares in the last quarter.

Insider Transactions at RBC Bearings

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction that occurred on Thursday, February 13th. The stock was 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 directly owns 11,382 shares in the company, valued at $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 at this link. Insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RBC. KeyCorp increased their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Truist Financial dropped their price target on shares of RBC Bearings from $410.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Morgan Stanley upped their price objective 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $354.20.

RBC Bearings Stock Down 0.1 %

RBC Bearings stock traded down $0.34 during midday trading on Friday, hitting $348.85. The stock had a trading volume of 115,812 shares, compared to its average volume of 159,943. The business has a fifty day moving average price of $331.67 and a 200 day moving average price of $327.08. RBC Bearings Incorporated has a 12 month low of $260.53 and a 12 month high of $372.83. The stock has a market cap of $10.96 billion, a P/E ratio of 47.92, a P/E/G ratio of 4.42 and a beta of 1.66. 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 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.