Dimensional Fund Advisors LP Acquires 6,667 Shares of RBC Bearings Incorporated (NYSE:RBC)

Dimensional Fund Advisors LP raised its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 358,438 shares of the industrial products company's stock after acquiring an additional 6,667 shares during the period. Dimensional Fund Advisors LP owned approximately 1.14% of RBC Bearings worth $107,221,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RBC. First Trust Advisors LP boosted its stake in RBC Bearings by 63.5% during the 4th quarter. First Trust Advisors LP now owns 315,661 shares of the industrial products company's stock worth $94,427,000 after acquiring an additional 122,552 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of RBC Bearings by 6.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 20,500 shares of the industrial products company's stock worth $6,132,000 after purchasing an additional 1,204 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new position in shares of RBC Bearings in the 4th quarter valued at $277,000. Farringdon Capital Ltd. bought a new stake in shares of RBC Bearings in the 4th quarter valued at $265,000. Finally, Marshall Wace LLP acquired a new stake in RBC Bearings during the 4th quarter worth $360,000.

RBC Bearings Stock Down 0.2 %

Shares of RBC stock traded down $0.75 during trading on Wednesday, reaching $328.56. The company's stock had a trading volume of 184,436 shares, compared to its average volume of 161,669. RBC Bearings Incorporated has a one year low of $243.50 and a one year high of $372.83. The business has a fifty day moving average price of $334.06 and a 200-day moving average price of $324.30. The company has a market cap of $10.32 billion, a price-to-earnings ratio of 45.13, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

Insiders Place Their Bets

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the business's stock in a transaction that occurred on 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 owns 11,382 shares of the company's stock, valued at $4,123,129.50. The trade was a 41.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael H. Ambrose sold 400 shares of the stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. Insiders have sold 10,900 shares of company stock valued at $3,963,031 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RBC has been the subject of a number of research analyst reports. Truist Financial decreased their target price on RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. KeyCorp raised their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Morgan Stanley raised their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $354.20.

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.