TimesSquare Capital Management LLC Purchases 6,785 Shares of RBC Bearings Incorporated (NYSE:RBC)

TimesSquare Capital Management LLC increased its position in RBC Bearings Incorporated (NYSE:RBC) by 7.5% during the 4th quarter, Holdings Channel reports. The firm owned 97,390 shares of the industrial products company’s stock after acquiring an additional 6,785 shares during the quarter. TimesSquare Capital Management LLC’s holdings in RBC Bearings were worth $29,133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Curated Wealth Partners LLC grew its stake in RBC Bearings by 1.6% in the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock worth $595,000 after purchasing an additional 32 shares in the last quarter. CIBC Asset Management Inc grew its stake in RBC Bearings by 5.4% in the fourth 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 in the last quarter. Marco Investment Management LLC grew its stake in RBC Bearings by 6.6% in the third quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 50 shares in the last quarter. Raymond James Trust N.A. grew its stake in RBC Bearings by 2.6% in the third quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company’s stock worth $633,000 after purchasing an additional 53 shares in the last quarter. Finally, SkyView Investment Advisors LLC grew its stake in RBC Bearings by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company’s stock worth $1,084,000 after purchasing an additional 58 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts recently issued reports on RBC shares. KeyCorp increased their price objective on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and upped their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. William Blair restated an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Morgan Stanley upped their target price on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Truist Financial upped their target price on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $361.20.

RBC Bearings Stock Up 1.2 %

RBC Bearings stock opened at $369.06 on Wednesday. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.51. The business has a fifty day moving average of $323.66 and a two-hundred day moving average of $307.72. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The firm has a market cap of $11.59 billion, a P/E ratio of 50.70, a P/E/G ratio of 4.89 and a beta of 1.58.

Insider Activity

In other news, CEO Michael J. Hartnett sold 2,500 shares of the stock in a transaction on Thursday, February 6th. The stock was 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 owns 320,088 shares in the company, valued at approximately $117,776,379.60. This represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value of $145,156.00. Following the sale, the director now owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,900 shares of company stock worth $3,963,031. Insiders own 2.60% of the company’s stock.

About RBC Bearings

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.