Blair William & Co. IL Has $55.52 Million Holdings in RBC Bearings Incorporated (NYSE:RBC)

Blair William & Co. IL grew its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 89.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 185,600 shares of the industrial products company’s stock after acquiring an additional 87,624 shares during the period. Blair William & Co. IL’s holdings in RBC Bearings were worth $55,520,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. R Squared Ltd acquired a new stake in RBC Bearings in the fourth quarter valued at approximately $30,000. Golden State Wealth Management LLC bought a new position in shares of RBC Bearings during the 4th quarter valued at $38,000. UMB Bank n.a. lifted its stake in shares of RBC Bearings by 84.9% in the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 79 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in RBC Bearings in the fourth quarter worth $82,000. Finally, Quarry LP raised its holdings in RBC Bearings by 1,003.7% during the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock valued at $89,000 after buying an additional 271 shares in the last quarter.

RBC Bearings Stock Performance

NYSE RBC opened at $333.35 on Friday. The company’s fifty day moving average is $344.99 and its two-hundred day moving average is $318.72. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of 45.79, a P/E/G ratio of 4.42 and a beta of 1.72. 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 Incorporated has a 52-week low of $241.43 and a 52-week high of $372.83.

Insider Activity at RBC Bearings

In related news, CEO Michael J. Hartnett sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was 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 directly owns 320,088 shares of the company’s stock, valued at $117,776,379.60. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 6,728 shares in the company, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,900 shares of company stock worth $3,963,031 over the last three months. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

RBC has been the subject of several recent analyst reports. Morgan Stanley upped their price target on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. KeyCorp increased their price target on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Truist Financial boosted their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $361.20.

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.