Price T Rowe Associates Inc. MD Has $570.03 Million Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Price T Rowe Associates Inc. MD trimmed its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 11.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,905,568 shares of the industrial products company's stock after selling 241,873 shares during the period. Price T Rowe Associates Inc. MD owned 6.07% of RBC Bearings worth $570,033,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. R Squared Ltd acquired a new stake in RBC Bearings during the fourth quarter worth about $30,000. Golden State Wealth Management LLC bought a new position in shares of RBC Bearings during the fourth quarter valued at approximately $38,000. UMB Bank n.a. grew its holdings in shares of RBC Bearings by 84.9% during the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 79 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of RBC Bearings during the 4th quarter worth approximately $82,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of RBC Bearings by 2,405.3% in the 4th quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company's stock worth $142,000 after purchasing an additional 457 shares during the last quarter.

Wall Street Analysts Forecast Growth

RBC has been the topic of several analyst reports. Morgan Stanley increased their target price on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. KeyCorp increased their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Truist Financial reduced 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 note on Thursday, April 17th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, RBC Bearings has an average rating of "Moderate Buy" and a consensus price target of $354.20.

RBC Bearings Stock Performance

Shares of NYSE RBC traded down $3.36 during midday trading on Wednesday, reaching $325.95. 37,715 shares of the company traded hands, compared to its average volume of 161,094. The stock has a 50-day moving average price of $334.06 and a 200 day moving average price of $324.30. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 44.63, a PEG ratio of 4.42 and a beta of 1.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings Incorporated has a 52 week low of $243.50 and a 52 week high of $372.83.

Insider Transactions at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of the business'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 transaction of $145,156.00. Following the sale, the director now owns 6,728 shares of the company's stock, valued at $2,441,523.92. The trade was 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 available at the SEC website. Also, CFO Robert M. Sullivan sold 8,000 shares of the stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,900 shares of company stock valued at $3,963,031. Company insiders own 2.60% of the company's stock.

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.