RBC Bearings Incorporated (NYSE:RBC) Stake Boosted by Zions Bancorporation N.A.

Zions Bancorporation N.A. increased its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 21.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,094 shares of the industrial products company’s stock after acquiring an additional 1,609 shares during the period. Zions Bancorporation N.A.’s holdings in RBC Bearings were worth $2,720,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. R Squared Ltd bought a new position in shares of RBC Bearings during the 4th quarter valued at $30,000. Golden State Wealth Management LLC bought a new position in RBC Bearings during the fourth quarter valued at about $38,000. UMB Bank n.a. lifted its position in shares of RBC Bearings by 84.9% in the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock worth $51,000 after buying an additional 79 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of RBC Bearings during the 4th quarter worth about $82,000. Finally, Quarry LP increased its holdings in shares of RBC Bearings by 1,003.7% during the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company’s stock valued at $89,000 after acquiring an additional 271 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RBC shares. KeyCorp boosted their target price on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. 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. Morgan Stanley raised their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, William Blair reissued an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RBC Bearings has an average rating of “Moderate Buy” and a consensus price target of $361.20.

Insider Activity at RBC Bearings

In other RBC Bearings 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 value of $2,898,000.00. Following the completion of the transaction, the chief financial officer now owns 11,382 shares of the company’s stock, valued at $4,123,129.50. This represents a 41.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael H. Ambrose sold 400 shares of RBC Bearings 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 directly owns 6,728 shares in the company, valued at $2,441,523.92. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,900 shares of company stock worth $3,963,031. Company insiders own 2.60% of the company’s stock.

RBC Bearings Price Performance

Shares of RBC Bearings stock opened at $332.89 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The company has a market cap of $10.46 billion, a PE ratio of 45.73, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The firm has a fifty day moving average price of $343.98 and a two-hundred day moving average price of $318.52. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week 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.