RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its position in RBC Bearings Incorporated (NYSE:RBC) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,281 shares of the industrial products company’s stock after selling 49 shares during the quarter. Quantbot Technologies LP’s holdings in RBC Bearings were worth $981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RBC. Charles Schwab Investment Management Inc. increased its holdings in shares of RBC Bearings by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 296,011 shares of the industrial products company’s stock valued at $88,620,000 after purchasing an additional 2,859 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of RBC Bearings by 2.6% during the 3rd quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company’s stock worth $633,000 after acquiring an additional 53 shares during the period. Citigroup Inc. boosted its position in shares of RBC Bearings by 7.0% during the 3rd quarter. Citigroup Inc. now owns 27,157 shares of the industrial products company’s stock valued at $8,130,000 after acquiring an additional 1,770 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of RBC Bearings by 34.4% in the third quarter. Cerity Partners LLC now owns 11,240 shares of the industrial products company’s stock valued at $3,365,000 after purchasing an additional 2,876 shares during the period. Finally, Centaurus Financial Inc. increased its position in RBC Bearings by 233.1% during the third quarter. Centaurus Financial Inc. now owns 2,851 shares of the industrial products company’s stock worth $854,000 after purchasing an additional 1,995 shares during the last quarter.

RBC Bearings Trading Down 0.7 %

NYSE RBC opened at $332.89 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The firm has a market cap of $10.46 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 4.42 and a beta of 1.72. The firm has a 50 day simple moving average of $343.98 and a 200-day simple moving average of $318.52. RBC Bearings Incorporated has a one year low of $241.43 and a one year high of $372.83.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RBC. KeyCorp increased their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Morgan Stanley lifted their target price 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, Truist Financial increased their price target on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.20.

Insider Transactions at RBC Bearings

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction dated 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 completion of the sale, the chief financial officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Hartnett sold 2,500 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.95, for a total value of $919,875.00. Following the completion of the transaction, the chief executive officer now owns 320,088 shares in the company, valued at approximately $117,776,379.60. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders 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.