T. Rowe Price Investment Management Inc. Has $328.25 Million Holdings in RBC Bearings Incorporated (NYSE:RBC)

T. Rowe Price Investment Management Inc. grew its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,097,321 shares of the industrial products company's stock after acquiring an additional 2,884 shares during the quarter. T. Rowe Price Investment Management Inc. owned 3.49% of RBC Bearings worth $328,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in RBC Bearings during the 4th quarter valued at about $88,184,000. Raymond James Financial Inc. acquired a new stake in shares of RBC Bearings during the 4th quarter valued at about $71,324,000. Vanguard Group Inc. increased its stake in RBC Bearings by 8.5% during the 4th 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 in the last quarter. First Trust Advisors LP increased its stake in 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 in the last quarter. Finally, Blair William & Co. IL grew its position in shares of RBC Bearings by 89.4% in the fourth quarter. Blair William & Co. IL now owns 185,600 shares of the industrial products company's stock valued at $55,520,000 after purchasing an additional 87,624 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RBC. Morgan Stanley upped their price objective on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. 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 research note on Thursday, April 17th. Finally, KeyCorp lifted their price target on RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $354.20.

RBC Bearings Price Performance

RBC traded up $3.89 during trading on Tuesday, hitting $328.64. The company's stock had a trading volume of 26,628 shares, compared to its average volume of 161,304. The firm's 50 day moving average price is $334.85 and its two-hundred day moving average price is $324.26. The stock has a market capitalization of $10.32 billion, a price-to-earnings ratio of 45.14, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60. RBC Bearings Incorporated has a 12 month low of $243.50 and a 12 month high of $372.83. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

Insiders Place Their Bets

In related news, CFO Robert M. Sullivan sold 8,000 shares of the company'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 transaction, the chief financial officer now directly owns 11,382 shares in the company, valued at approximately $4,123,129.50. This represents a 41.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael H. Ambrose sold 400 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of the transaction, the director now owns 6,728 shares in the company, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is currently owned by corporate insiders.

About RBC Bearings

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.