RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Bamco Inc. NY

Bamco Inc. NY decreased its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 322,361 shares of the industrial products company's stock after selling 12,714 shares during the quarter. Bamco Inc. NY owned 1.03% of RBC Bearings worth $96,431,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RBC. R Squared Ltd purchased a new position in RBC Bearings in the 4th quarter valued at approximately $30,000. Golden State Wealth Management LLC purchased a new position in RBC Bearings in the fourth quarter valued at approximately $38,000. UMB Bank n.a. lifted its position in 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 acquiring an additional 79 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of RBC Bearings in the 4th quarter valued at about $82,000. Finally, Quarry LP boosted its holdings in shares of RBC Bearings by 30.9% in the fourth quarter. Quarry LP now owns 390 shares of the industrial products company's stock valued at $117,000 after acquiring an additional 92 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RBC. 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. Morgan Stanley lifted their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Finally, KeyCorp lifted their price objective on RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $354.20.

RBC Bearings Trading Down 0.6 %

NYSE:RBC traded down $1.95 during mid-day trading on Friday, reaching $347.24. The company's stock had a trading volume of 66,880 shares, compared to its average volume of 159,519. The stock has a market cap of $10.91 billion, a P/E ratio of 47.70, a P/E/G ratio of 4.42 and a beta of 1.66. The company's fifty day simple moving average is $331.69 and its two-hundred day simple moving average is $326.64. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month high of $372.83. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

Insider Activity at RBC Bearings

In other news, CFO Robert M. Sullivan sold 8,000 shares of the company'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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is 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.