Susquehanna Fundamental Investments LLC Makes New Investment in RBC Bearings Incorporated (NYSE:RBC)

Susquehanna Fundamental Investments LLC purchased a new position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,450 shares of the industrial products company's stock, valued at approximately $1,630,000.

Several other large investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of RBC Bearings during the 4th quarter valued at $88,184,000. Raymond James Financial Inc. acquired a new position in RBC Bearings in the fourth quarter valued at about $71,324,000. Vanguard Group Inc. boosted its holdings in RBC Bearings by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock worth $879,149,000 after buying an additional 229,466 shares during the last quarter. First Trust Advisors LP grew its position in shares of RBC Bearings by 63.5% during the 4th quarter. First Trust Advisors LP now owns 315,661 shares of the industrial products company's stock worth $94,427,000 after buying an additional 122,552 shares during the period. Finally, Blair William & Co. IL increased its stake in shares of 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 acquiring an additional 87,624 shares during the last quarter.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of RBC Bearings stock in a transaction 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. The trade was a 5.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer now 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. In the last quarter, insiders have sold 10,900 shares of company stock worth $3,963,031. Corporate insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RBC. Morgan Stanley boosted their price objective 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. Truist Financial lowered their price objective on shares of RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, KeyCorp boosted their target price on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $354.20.

RBC Bearings Stock Up 3.1 %

Shares of RBC traded up $10.47 during midday trading on Friday, hitting $344.22. The stock had a trading volume of 102,419 shares, compared to its average volume of 161,233. The firm has a market cap of $10.81 billion, a price-to-earnings ratio of 47.28, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. The company has a 50 day simple moving average of $332.74 and a two-hundred day simple moving average of $325.35. RBC Bearings Incorporated has a twelve month low of $252.40 and a twelve month high of $372.83. 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 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.