RBC Bearings Incorporated (NYSE:RBC) Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC reduced its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 0.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 468,082 shares of the industrial products company’s stock after selling 2,760 shares during the quarter. RBC Bearings comprises approximately 1.2% of GW&K Investment Management LLC’s holdings, making the stock its 5th biggest position. GW&K Investment Management LLC’s holdings in RBC Bearings were worth $140,022,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Jane Street Group LLC grew its holdings in RBC Bearings by 18.5% during the third quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock worth $4,951,000 after acquiring an additional 2,584 shares during the period. Segall Bryant & Hamill LLC boosted its position in RBC Bearings by 41.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock worth $8,896,000 after purchasing an additional 8,725 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in shares of RBC Bearings by 17.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after purchasing an additional 13,395 shares during the period. Holocene Advisors LP increased its holdings in shares of RBC Bearings by 69.4% during the 3rd quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company’s stock valued at $3,711,000 after purchasing an additional 5,078 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of RBC Bearings by 2.4% in the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock valued at $253,028,000 after purchasing an additional 19,962 shares during the period.

Insiders Place Their Bets

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 6,728 shares of the company’s stock, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings 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 transaction, the chief executive officer now owns 320,088 shares in the company, valued at approximately $117,776,379.60. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,900 shares of company stock valued at $3,963,031 in the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

RBC Bearings Stock Performance

RBC opened at $357.24 on Friday. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83. The firm has a market capitalization of $11.22 billion, a PE ratio of 49.07, a PEG ratio of 4.42 and a beta of 1.58. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $328.94 and its 200 day moving average price is $311.44.

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.