MetLife Investment Management LLC Grows Position in RBC Bearings Incorporated (NYSE:RBC)

MetLife Investment Management LLC raised its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 17.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,559 shares of the industrial products company's stock after buying an additional 2,552 shares during the period. MetLife Investment Management LLC owned about 0.06% of RBC Bearings worth $5,253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of RBC. Curi RMB Capital LLC grew its position in RBC Bearings by 1.8% in the 4th quarter. Curi RMB Capital LLC now owns 52,830 shares of the industrial products company's stock valued at $15,804,000 after acquiring an additional 925 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of RBC Bearings by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 358,438 shares of the industrial products company's stock valued at $107,221,000 after purchasing an additional 6,667 shares during the period. First Trust Advisors LP grew its holdings in shares of RBC Bearings by 63.5% in the fourth quarter. First Trust Advisors LP now owns 315,661 shares of the industrial products company's stock valued at $94,427,000 after purchasing an additional 122,552 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in RBC Bearings by 6.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 20,500 shares of the industrial products company's stock worth $6,132,000 after buying an additional 1,204 shares during the period. Finally, GKV Capital Management Co. Inc. acquired a new stake in RBC Bearings during the 4th quarter worth approximately $277,000.

RBC Bearings Stock Up 0.6 %

NYSE:RBC traded up $1.96 during trading hours on Tuesday, hitting $326.71. The company's stock had a trading volume of 18,837 shares, compared to its average volume of 161,275. RBC Bearings Incorporated has a 52-week low of $243.50 and a 52-week high of $372.83. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $10.26 billion, a P/E ratio of 44.87, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60. The stock has a fifty day moving average of $334.85 and a 200-day moving average of $324.26.

Insider Transactions at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the completion of the transaction, the director now directly owns 6,728 shares of the company's stock, valued at $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the completion of the transaction, the chief executive officer now owns 320,088 shares in the company, valued at $117,776,379.60. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on RBC shares. Truist Financial dropped their price target on shares of 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 upped their price target on 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 increased their price target on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Three research 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, RBC Bearings currently has a consensus rating of "Moderate Buy" and a consensus price target 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.