Susquehanna Fundamental Investments LLC Takes Position in RBC Bearings Incorporated (NYSE:RBC)

Susquehanna Fundamental Investments LLC acquired a new stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,450 shares of the industrial products company's stock, valued at approximately $1,630,000.

A number of other large investors also recently added to or reduced their stakes in RBC. R Squared Ltd acquired a new stake in RBC Bearings during the 4th quarter worth $30,000. Golden State Wealth Management LLC acquired a new stake in RBC Bearings in the 4th quarter valued at approximately $38,000. UMB Bank n.a. lifted its stake in RBC Bearings by 84.9% during the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock worth $51,000 after acquiring an additional 79 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in RBC Bearings during the 4th quarter worth approximately $82,000. Finally, Venturi Wealth Management LLC grew its stake in RBC Bearings by 2,405.3% during 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 in the last quarter.

Insider Activity at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was 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 directly 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 11,382 shares in the company, valued at $4,123,129.50. This trade represents 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. Corporate insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

RBC has been the subject of a number of research reports. KeyCorp boosted their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Truist Financial decreased 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, Morgan Stanley raised their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $354.20.

RBC Bearings Stock Down 0.4 %

Shares of NYSE:RBC traded down $1.20 during midday trading on Tuesday, hitting $341.60. 9,559 shares of the company's stock traded hands, compared to its average volume of 160,312. The company has a market cap of $10.73 billion, a PE ratio of 46.92, a P/E/G ratio of 4.42 and a beta of 1.66. RBC Bearings Incorporated has a twelve month low of $252.40 and a twelve month high of $372.83. The firm's fifty day moving average price is $332.45 and its two-hundred day moving average price is $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.

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.