Granahan Investment Management LLC Has $18.25 Million Position in RBC Bearings Incorporated (NYSE:RBC)

Granahan Investment Management LLC cut its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,004 shares of the industrial products company's stock after selling 1,185 shares during the quarter. Granahan Investment Management LLC owned approximately 0.19% of RBC Bearings worth $18,249,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of RBC. Ethic Inc. boosted its position in shares of RBC Bearings by 16.5% during the 4th quarter. Ethic Inc. now owns 1,507 shares of the industrial products company's stock worth $451,000 after purchasing an additional 213 shares in the last quarter. Deutsche Bank AG boosted its holdings in RBC Bearings by 2.9% in the fourth quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock worth $529,000 after acquiring an additional 49 shares in the last quarter. Durable Capital Partners LP boosted its holdings in RBC Bearings by 1.9% in the fourth quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company's stock worth $787,141,000 after acquiring an additional 48,287 shares in the last quarter. Cetera Investment Advisers grew its stake in RBC Bearings by 2.4% in the fourth quarter. Cetera Investment Advisers now owns 4,234 shares of the industrial products company's stock valued at $1,267,000 after acquiring an additional 99 shares during the period. Finally, Captrust Financial Advisors increased its holdings in shares of RBC Bearings by 24.8% during the fourth quarter. Captrust Financial Advisors now owns 5,543 shares of the industrial products company's stock valued at $1,658,000 after acquiring an additional 1,101 shares in the last quarter.

RBC Bearings Stock Performance

NYSE RBC opened at $348.85 on Friday. The company has a fifty day moving average price of $331.67 and a 200-day moving average price of $327.08. The firm has a market cap of $10.96 billion, a price-to-earnings ratio of 47.92, a PEG ratio of 4.42 and a beta of 1.66. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings Incorporated has a 1 year low of $260.53 and a 1 year high of $372.83.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. KeyCorp increased their target price on RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Morgan Stanley lifted their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Finally, Truist Financial lowered their target price on shares of RBC Bearings from $410.00 to $375.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $354.20.

Insiders Place Their Bets

In other 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 value of $2,898,000.00. Following the transaction, the chief financial officer now owns 11,382 shares in the company, valued at $4,123,129.50. The trade was a 41.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.

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