Next Century Growth Investors LLC Has $19.62 Million Stake in RBC Bearings Incorporated (NYSE:RBC)

Next Century Growth Investors LLC lifted its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,589 shares of the industrial products company's stock after acquiring an additional 4,311 shares during the period. RBC Bearings comprises approximately 1.5% of Next Century Growth Investors LLC's holdings, making the stock its 15th largest holding. Next Century Growth Investors LLC owned about 0.21% of RBC Bearings worth $19,620,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in RBC Bearings by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock valued at $879,149,000 after buying an additional 229,466 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of RBC Bearings by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 507,771 shares of the industrial products company's stock worth $151,944,000 after acquiring an additional 25,268 shares during the last quarter. Maren Capital LLC increased its position in shares of RBC Bearings by 6.5% in the fourth quarter. Maren Capital LLC now owns 403,803 shares of the industrial products company's stock worth $120,794,000 after acquiring an additional 24,690 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in RBC Bearings by 6.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 316,240 shares of the industrial products company's stock worth $94,600,000 after purchasing an additional 20,229 shares in the last quarter. Finally, Norges Bank purchased a new stake in RBC Bearings in the 4th quarter worth about $88,184,000.

Insiders Place Their Bets

In other news, Director Michael H. Ambrose sold 400 shares of the stock in a transaction 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 transaction, the director now owns 6,728 shares in the company, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert M. Sullivan sold 8,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 11,382 shares of the company's stock, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Stock Performance

NYSE RBC traded up $2.22 during midday trading on Thursday, hitting $322.19. The company had a trading volume of 80,903 shares, compared to its average volume of 161,349. The firm has a fifty day simple moving average of $341.58 and a two-hundred day simple moving average of $321.93. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of 44.26, a P/E/G 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. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week high of $372.83.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RBC shares. KeyCorp lifted their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Morgan Stanley boosted 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 decreased their target price on shares of RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, RBC Bearings presently has an average 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.