RBC Bearings Incorporated (NYSE:RBC) Shares Sold by RiverPark Advisors LLC

RiverPark Advisors LLC lowered its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 87.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190 shares of the industrial products company's stock after selling 1,286 shares during the period. RiverPark Advisors LLC's holdings in RBC Bearings were worth $60,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in RBC Bearings in the 4th quarter valued at about $88,184,000. Raymond James Financial Inc. purchased a new stake in RBC Bearings in the 4th quarter valued at about $71,324,000. Vanguard Group Inc. grew its holdings in RBC Bearings by 8.5% in the 4th 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 period. First Trust Advisors LP grew its holdings in RBC Bearings by 63.5% in the 4th quarter. First Trust Advisors LP now owns 315,661 shares of the industrial products company's stock valued at $94,427,000 after buying an additional 122,552 shares during the period. Finally, Blair William & Co. IL grew its holdings in RBC Bearings by 89.4% in the 4th quarter. Blair William & Co. IL now owns 185,600 shares of the industrial products company's stock valued at $55,520,000 after buying an additional 87,624 shares during the period.

Insiders Place Their Bets

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was 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 $4,123,129.50. This represents a 41.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 sale, the director now directly owns 6,728 shares in the company, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock worth $3,963,031 in the last 90 days. 2.60% of the stock is owned by company insiders.

RBC Bearings Stock Up 0.8 %

NYSE RBC traded up $2.60 on Tuesday, reaching $327.35. The company had a trading volume of 30,544 shares, compared to its average volume of 161,319. The firm has a market capitalization of $10.28 billion, a PE ratio of 44.97, a P/E/G ratio of 4.42 and a beta of 1.60. RBC Bearings Incorporated has a 1 year low of $243.50 and a 1 year high of $372.83. The firm has a 50-day moving average of $334.85 and a 200-day moving average of $324.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

Wall Street Analysts Forecast Growth

RBC has been the subject of several recent analyst reports. KeyCorp lifted their price target on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Morgan Stanley boosted their target price on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Finally, Truist Financial decreased their target price on RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.