Snyder Capital Management L P Sells 11,962 Shares of RBC Bearings Incorporated (NYSE:RBC)

Snyder Capital Management L P reduced its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 322,415 shares of the industrial products company's stock after selling 11,962 shares during the period. RBC Bearings comprises about 2.0% of Snyder Capital Management L P's investment portfolio, making the stock its 17th biggest position. Snyder Capital Management L P owned 1.03% of RBC Bearings worth $96,447,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. R Squared Ltd acquired a new position in RBC Bearings in the fourth quarter valued at about $30,000. Golden State Wealth Management LLC acquired a new position in RBC Bearings in the fourth quarter valued at about $38,000. UMB Bank n.a. boosted its position in RBC Bearings by 84.9% in the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock valued at $51,000 after buying an additional 79 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in RBC Bearings in the fourth quarter valued at about $82,000. Finally, Venturi Wealth Management LLC boosted its position in RBC Bearings by 2,405.3% in the fourth quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company's stock valued at $142,000 after buying an additional 457 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RBC. Morgan Stanley upped their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Truist Financial reduced their target price on shares of RBC Bearings from $410.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, KeyCorp upped their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a research report 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $354.20.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 6,728 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert M. Sullivan sold 8,000 shares of the company'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 transaction of $2,898,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,382 shares of the company's stock, valued at $4,123,129.50. The trade was a 41.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,900 shares of company stock valued at $3,963,031. Corporate insiders own 2.60% of the company's stock.

RBC Bearings Trading Down 1.7 %

NYSE:RBC traded down $5.60 during trading hours on Wednesday, hitting $323.71. The stock had a trading volume of 54,118 shares, compared to its average volume of 161,200. RBC Bearings Incorporated has a one year low of $243.50 and a one year high of $372.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 44.47, a P/E/G ratio of 4.42 and a beta of 1.60. The business's 50 day moving average is $334.06 and its 200-day moving average is $324.30.

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.