Kayne Anderson Rudnick Investment Management LLC Has $570.22 Million Holdings in RBC Bearings Incorporated (NYSE:RBC)

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,906,183 shares of the industrial products company's stock after selling 29,110 shares during the period. RBC Bearings makes up about 1.3% of Kayne Anderson Rudnick Investment Management LLC's investment portfolio, making the stock its 21st biggest position. Kayne Anderson Rudnick Investment Management LLC owned approximately 6.07% of RBC Bearings worth $570,216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Torray Investment Partners LLC raised its position in shares of RBC Bearings by 0.3% during the fourth quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company's stock worth $2,533,000 after purchasing an additional 28 shares during the period. Curated Wealth Partners LLC lifted its holdings in shares of RBC Bearings by 1.6% in the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company's stock valued at $595,000 after purchasing an additional 32 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of RBC Bearings by 0.6% during the fourth quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company's stock worth $1,694,000 after buying an additional 36 shares during the period. Argonautica Private Wealth Management Inc. raised its position in RBC Bearings by 3.4% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company's stock valued at $418,000 after buying an additional 46 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in RBC Bearings by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company's stock worth $273,000 after acquiring an additional 47 shares during the last quarter.

Insider Buying and Selling at RBC Bearings

In related news, CFO Robert M. Sullivan sold 8,000 shares of the business's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 11,382 shares in the company, 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 SEC, which is available through the SEC website. Also, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings stock in a transaction 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 directly owns 320,088 shares of the company's stock, valued at $117,776,379.60. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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 company insiders.

RBC Bearings Stock Performance

RBC stock traded down $0.70 during midday trading on Friday, reaching $329.44. 40,789 shares of the company were exchanged, compared to its average volume of 160,836. The business has a 50-day moving average price of $336.61 and a two-hundred day moving average price of $323.04. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The firm has a market capitalization of $10.35 billion, a price-to-earnings ratio of 45.25, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60. RBC Bearings Incorporated has a one year low of $241.43 and a one year high of $372.83.

Wall Street Analysts Forecast Growth

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

RBC Bearings Company 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.