Grantham Mayo Van Otterloo & Co. LLC Sells 18,855 Shares of RBC Bearings Incorporated (NYSE:RBC)

Grantham Mayo Van Otterloo & Co. LLC reduced its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 12.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 128,589 shares of the industrial products company’s stock after selling 18,855 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in RBC Bearings were worth $38,466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Torray Investment Partners LLC raised its stake in shares of RBC Bearings by 0.3% during the fourth quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock worth $2,533,000 after buying an additional 28 shares during the last quarter. Curated Wealth Partners LLC raised its position in shares of RBC Bearings by 1.6% during the 4th quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock valued at $595,000 after acquiring an additional 32 shares during the last quarter. Argonautica Private Wealth Management Inc. lifted its stake in shares of RBC Bearings by 3.4% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 46 shares during the period. CIBC Asset Management Inc boosted its position in shares of RBC Bearings by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock worth $273,000 after purchasing an additional 47 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of RBC Bearings by 6.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 762 shares of the industrial products company’s stock worth $228,000 after purchasing an additional 47 shares during the period.

RBC Bearings Stock Down 2.6 %

Shares of RBC Bearings stock opened at $308.85 on Friday. The company has a market capitalization of $9.70 billion, a P/E ratio of 42.42, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60. 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 business has a 50-day moving average of $345.86 and a two-hundred day moving average of $320.33. RBC Bearings Incorporated has a 1 year low of $241.43 and a 1 year high of $372.83.

Analyst Ratings Changes

Several research firms have weighed in on RBC. KeyCorp increased their target price on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Morgan Stanley increased their price target on shares of 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 lifted 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 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $361.20.

Insider Buying and Selling

In other news, CFO Robert M. Sullivan sold 8,000 shares of the stock in a transaction on Thursday, February 13th. The shares were 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 owns 11,382 shares of the company’s stock, valued at $4,123,129.50. This represents a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the business’s stock in a transaction on 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 $117,776,379.60. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is owned by corporate insiders.

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.