RBC Bearings Incorporated (NYSE:RBC) Shares Acquired by LPL Financial LLC

LPL Financial LLC grew its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 27.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,833 shares of the industrial products company's stock after acquiring an additional 5,817 shares during the quarter. LPL Financial LLC owned about 0.09% of RBC Bearings worth $8,145,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in RBC Bearings by 61.3% during the 3rd quarter. FMR LLC now owns 4,191 shares of the industrial products company's stock worth $1,255,000 after purchasing an additional 1,593 shares during the last quarter. Verition Fund Management LLC raised its position in shares of RBC Bearings by 87.0% in the third quarter. Verition Fund Management LLC now owns 2,296 shares of the industrial products company's stock valued at $687,000 after buying an additional 1,068 shares during the last quarter. Centiva Capital LP purchased a new position in shares of RBC Bearings in the third quarter worth about $524,000. HighTower Advisors LLC boosted its position in RBC Bearings by 2.3% during the third quarter. HighTower Advisors LLC now owns 8,170 shares of the industrial products company's stock worth $2,434,000 after acquiring an additional 185 shares during the last quarter. Finally, IHT Wealth Management LLC purchased a new stake in RBC Bearings during the 3rd quarter valued at about $322,000.

RBC Bearings Trading Down 2.2 %

Shares of NYSE RBC traded down $7.42 during midday trading on Thursday, reaching $325.98. 142,587 shares of the stock were exchanged, compared to its average volume of 161,219. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83. The stock has a market capitalization of $10.24 billion, a P/E ratio of 44.78, a PEG ratio of 4.42 and a beta of 1.60. The company has a 50 day simple moving average of $344.47 and a 200 day simple moving average of $321.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RBC. 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 research note on Monday, February 3rd. Morgan Stanley increased their price target on 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 boosted their price objective on RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $361.20.

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 shares were sold at an average price of $362.25, for a total value of $2,898,000.00. Following the sale, the chief financial officer now directly owns 11,382 shares of the company's stock, valued at approximately $4,123,129.50. The trade was a 41.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total transaction of $145,156.00. Following the transaction, the director now directly owns 6,728 shares of the company's stock, valued at $2,441,523.92. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock valued at $3,963,031 over the last quarter. 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.