XTX Topco Ltd Invests $388,000 in RBC Bearings Incorporated (NYSE:RBC)

XTX Topco Ltd acquired a new position in RBC Bearings Incorporated (NYSE:RBC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,296 shares of the industrial products company's stock, valued at approximately $388,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBC. Bank of New York Mellon Corp grew its position in shares of RBC Bearings by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company's stock worth $59,581,000 after buying an additional 1,103 shares during the period. GAMMA Investing LLC grew its position in shares of RBC Bearings by 17.5% during the 4th quarter. GAMMA Investing LLC now owns 517 shares of the industrial products company's stock worth $155,000 after buying an additional 77 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of RBC Bearings by 39.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company's stock worth $66,247,000 after buying an additional 62,706 shares during the period. Callan Family Office LLC grew its position in shares of RBC Bearings by 251.7% during the 4th quarter. Callan Family Office LLC now owns 2,416 shares of the industrial products company's stock worth $723,000 after buying an additional 1,729 shares during the period. Finally, Advantage Alpha Capital Partners LP grew its position in shares of RBC Bearings by 35.3% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 18,514 shares of the industrial products company's stock worth $5,545,000 after buying an additional 4,835 shares during the period.

Insider Buying and Selling at RBC Bearings

In other 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 transaction of $2,898,000.00. Following the sale, the chief financial officer now owns 11,382 shares in the company, 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 this link. Also, Director Michael H. Ambrose sold 400 shares of the company'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 value of $145,156.00. Following the sale, the director now owns 6,728 shares in the company, valued at approximately $2,441,523.92. This represents a 5.61 % 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.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RBC. Truist Financial decreased their price objective on RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Morgan Stanley boosted their price objective on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Finally, KeyCorp boosted their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, RBC Bearings currently has a consensus rating of "Moderate Buy" and a consensus price target of $354.20.

RBC Bearings Stock Down 0.7 %

NYSE RBC traded down $2.39 during trading on Monday, hitting $324.74. The stock had a trading volume of 218,827 shares, compared to its average volume of 161,836. The company has a market capitalization of $10.20 billion, a PE ratio of 44.61, a P/E/G ratio of 4.42 and a beta of 1.60. The company's 50-day moving average price is $334.85 and its two-hundred day moving average price is $324.26. 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 Incorporated has a 12 month low of $243.50 and a 12 month high of $372.83.

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.