Curi RMB Capital LLC Buys 925 Shares of RBC Bearings Incorporated (NYSE:RBC)

Curi RMB Capital LLC grew its stake in RBC Bearings Incorporated (NYSE:RBC) by 1.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 52,830 shares of the industrial products company’s stock after purchasing an additional 925 shares during the quarter. Curi RMB Capital LLC’s holdings in RBC Bearings were worth $15,804,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Torray Investment Partners LLC grew its stake in shares of RBC Bearings by 0.3% in the fourth quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock valued at $2,533,000 after acquiring an additional 28 shares in the last quarter. Curated Wealth Partners LLC boosted its stake in shares of RBC Bearings by 1.6% in the 4th quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock valued at $595,000 after purchasing an additional 32 shares in the last quarter. Townsquare Capital LLC increased its position in RBC Bearings by 0.6% during the 4th quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company’s stock worth $1,694,000 after purchasing an additional 36 shares in the last quarter. Argonautica Private Wealth Management Inc. grew its position in RBC Bearings by 3.4% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company’s stock worth $418,000 after acquiring an additional 46 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in RBC Bearings by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock worth $273,000 after buying an additional 47 shares during the period.

Insider Activity

In related news, Director Michael H. Ambrose sold 400 shares of the stock in a transaction dated Wednesday, February 5th. The stock was 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 owns 6,728 shares in the company, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings 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 sale, the chief executive officer now owns 320,088 shares of the company’s stock, valued at $117,776,379.60. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,900 shares of company stock worth $3,963,031. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial cut their price objective on RBC Bearings from $410.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley upped their target price on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, KeyCorp boosted their price objective on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average target price of $354.20.

RBC Bearings Trading Up 0.5 %

RBC opened at $321.48 on Friday. 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 one year low of $241.43 and a one year high of $372.83. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 44.16, a PEG ratio of 4.42 and a beta of 1.60. The business has a 50 day simple moving average of $339.89 and a two-hundred day simple moving average of $322.21.

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.