Farringdon Capital Ltd. Purchases Shares of 885 RBC Bearings Incorporated (NYSE:RBC)

Farringdon Capital Ltd. bought a new position in RBC Bearings Incorporated (NYSE:RBC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 885 shares of the industrial products company's stock, valued at approximately $265,000.

Several other institutional investors also recently bought and sold shares of RBC. R Squared Ltd purchased a new stake in shares of RBC Bearings during the 4th quarter valued at $30,000. Golden State Wealth Management LLC purchased a new position in shares of RBC Bearings in the 4th quarter worth about $38,000. UMB Bank n.a. grew its holdings in shares of 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 purchasing an additional 79 shares during the period. Harbor Investment Advisory LLC acquired a new stake in RBC Bearings during the 4th quarter worth approximately $82,000. Finally, Venturi Wealth Management LLC raised its holdings in RBC Bearings by 2,405.3% in the fourth quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company's stock valued at $142,000 after buying an additional 457 shares during the period.

Analyst Ratings Changes

RBC has been the topic of a number of research reports. KeyCorp raised 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. Morgan Stanley upped their target price on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Finally, Truist Financial dropped their target price on RBC Bearings from $410.00 to $375.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $354.20.

RBC Bearings Stock Up 3.2 %

NYSE RBC traded up $10.42 during mid-day trading on Thursday, reaching $335.90. 46,819 shares of the company's stock traded hands, compared to its average volume of 160,710. The company has a fifty day simple moving average of $337.28 and a 200-day simple moving average of $322.75. RBC Bearings Incorporated has a 1-year low of $241.43 and a 1-year high of $372.83. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 46.14, a P/E/G ratio of 4.42 and a beta of 1.60. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34.

Insider Activity

In other news, Director Michael H. Ambrose sold 400 shares of RBC Bearings stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value of $145,156.00. Following the completion of the transaction, the director now directly owns 6,728 shares of the company's stock, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.95, for a total value of $919,875.00. Following 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. In the last three months, insiders sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is currently owned by insiders.

About RBC Bearings

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.