Arcadia Investment Management Corp MI Has $421,000 Holdings in RBC Bearings Incorporated (NYSE:RBC)

Arcadia Investment Management Corp MI lifted its holdings in RBC Bearings Incorporated (NYSE:RBC) by 41.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,409 shares of the industrial products company’s stock after purchasing an additional 410 shares during the period. Arcadia Investment Management Corp MI’s holdings in RBC Bearings were worth $421,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RBC. Blue Trust Inc. lifted its stake in shares of RBC Bearings by 541.9% in the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 233 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of RBC Bearings by 13.4% in the 3rd quarter. Private Advisor Group LLC now owns 1,320 shares of the industrial products company’s stock valued at $395,000 after purchasing an additional 156 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of RBC Bearings in the 3rd quarter valued at $222,000. Argent Capital Management LLC lifted its stake in shares of RBC Bearings by 13.2% in the 3rd quarter. Argent Capital Management LLC now owns 3,398 shares of the industrial products company’s stock valued at $1,017,000 after purchasing an additional 397 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of RBC Bearings by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,370 shares of the industrial products company’s stock valued at $1,008,000 after purchasing an additional 225 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RBC shares. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. KeyCorp lifted their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Truist Financial lifted their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Morgan Stanley lifted their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, William Blair reiterated an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $361.20.

Insider Transactions at RBC Bearings

In related news, 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 value of $145,156.00. Following the sale, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the completion of the sale, the chief executive officer now directly 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. In the last 90 days, insiders have sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Stock Performance

NYSE:RBC opened at $368.79 on Friday. The firm’s 50-day moving average is $325.12 and its 200-day moving average is $308.59. RBC Bearings Incorporated has a 52-week low of $241.43 and a 52-week high of $372.83. 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 company has a market cap of $11.58 billion, a price-to-earnings ratio of 50.66, a PEG ratio of 4.98 and a beta of 1.58.

RBC Bearings Company 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.