2Xideas AG Purchases Shares of 31,086 RBC Bearings Incorporated (NYSE:RBC)

2Xideas AG bought a new stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 31,086 shares of the industrial products company's stock, valued at approximately $9,299,000. 2Xideas AG owned approximately 0.10% of RBC Bearings at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd purchased a new position in RBC Bearings in the 4th quarter valued at approximately $30,000. Golden State Wealth Management LLC acquired a new stake in RBC Bearings in the fourth quarter valued at $38,000. UMB Bank n.a. increased its position in shares of RBC Bearings by 84.9% in the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock valued at $51,000 after buying an additional 79 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of RBC Bearings during the 4th quarter worth $82,000. Finally, Quarry LP boosted 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 buying an additional 271 shares in the last quarter.

Analyst Upgrades and Downgrades

RBC has been the subject of several recent research reports. Truist Financial raised their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the company a "buy" rating in a report on Monday, February 3rd. KeyCorp increased their price target 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. Finally, Morgan Stanley lifted their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $361.20.

Insider Buying and Selling

In related news, CFO Robert M. Sullivan sold 8,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 11,382 shares in the company, valued at approximately $4,123,129.50. This represents a 41.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $145,156.00. Following the completion of the sale, the director now directly owns 6,728 shares in the company, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is owned by insiders.

RBC Bearings Trading Up 2.3 %

Shares of RBC Bearings stock traded up $7.41 during mid-day trading on Friday, hitting $332.66. 81,670 shares of the stock were exchanged, compared to its average volume of 160,913. The company has a 50-day simple moving average of $344.47 and a 200 day simple moving average of $321.23. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 45.23, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83.

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.