RBC Bearings Incorporated (NYSE:RBC) Shares Acquired by Comerica Bank

Comerica Bank lifted its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 2.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 76,377 shares of the industrial products company's stock after purchasing an additional 1,870 shares during the quarter. Comerica Bank owned about 0.24% of RBC Bearings worth $22,848,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its holdings in shares of RBC Bearings by 162.2% during the third quarter. Barclays PLC now owns 21,030 shares of the industrial products company's stock worth $6,296,000 after purchasing an additional 13,010 shares during the period. SkyView Investment Advisors LLC lifted its stake in RBC Bearings by 1.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company's stock valued at $1,084,000 after acquiring an additional 58 shares during the period. Tidal Investments LLC boosted its holdings in shares of RBC Bearings by 36.0% in the 3rd quarter. Tidal Investments LLC now owns 3,016 shares of the industrial products company's stock valued at $903,000 after acquiring an additional 798 shares during the last quarter. Synovus Financial Corp increased its stake in shares of RBC Bearings by 6.2% in the third quarter. Synovus Financial Corp now owns 13,830 shares of the industrial products company's stock worth $4,141,000 after acquiring an additional 805 shares during the period. Finally, Retirement Systems of Alabama raised its holdings in shares of RBC Bearings by 6.7% during the third quarter. Retirement Systems of Alabama now owns 38,245 shares of the industrial products company's stock worth $11,450,000 after purchasing an additional 2,405 shares during the last quarter.

RBC Bearings Trading Up 0.0 %

Shares of NYSE RBC traded up $0.09 during trading on Tuesday, hitting $342.89. 19,903 shares of the company were exchanged, compared to its average volume of 160,350. RBC Bearings Incorporated has a 12-month low of $252.40 and a 12-month high of $372.83. The firm has a market capitalization of $10.77 billion, a PE ratio of 47.14, a P/E/G ratio of 4.42 and a beta of 1.66. The company has a fifty day moving average price of $332.45 and a 200-day moving average price of $325.98. 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 equities analysts have weighed in on the company. Truist Financial reduced their price objective on RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Morgan Stanley raised their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Finally, KeyCorp raised their target price on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, RBC Bearings has an average rating of "Moderate Buy" and an average target price of $354.20.

Insider Activity

In other news, CEO Michael J. Hartnett sold 2,500 shares of the business's 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 sale, the chief executive officer now owns 320,088 shares in the company, valued at approximately $117,776,379.60. The trade was a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $145,156.00. Following the completion of the transaction, the director now directly owns 6,728 shares in the company, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their ownership of the stock. 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.

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.