Callan Family Office LLC Purchases 1,729 Shares of RBC Bearings Incorporated (NYSE:RBC)

Callan Family Office LLC lifted its position in RBC Bearings Incorporated (NYSE:RBC) by 251.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,416 shares of the industrial products company’s stock after buying an additional 1,729 shares during the period. Callan Family Office LLC’s holdings in RBC Bearings were worth $723,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RBC. R Squared Ltd bought a new position in shares of RBC Bearings in the fourth quarter worth approximately $30,000. Golden State Wealth Management LLC purchased a new position in shares of RBC Bearings during the fourth quarter valued at approximately $38,000. UMB Bank n.a. raised its holdings in shares of RBC Bearings by 84.9% during the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 79 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of RBC Bearings during the fourth quarter valued at approximately $82,000. Finally, Quarry LP raised its holdings in shares of RBC Bearings by 1,003.7% during the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 271 shares during the last quarter.

Insider Transactions at RBC Bearings

In related news, CFO Robert M. Sullivan sold 8,000 shares of the company’s 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 transaction, the chief financial officer now owns 11,382 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total transaction of $145,156.00. Following the transaction, 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. Insiders sold a total of 10,900 shares of company stock valued at $3,963,031 over the last three months. Corporate insiders own 2.60% of the company’s stock.

RBC Bearings Stock Performance

Shares of NYSE RBC opened at $353.30 on Friday. The firm has a fifty day moving average price of $334.91 and a 200-day moving average price of $314.57. 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 stock has a market cap of $11.10 billion, a PE ratio of 48.53, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. RBC Bearings Incorporated has a 1 year low of $241.43 and a 1 year high of $372.83.

Analyst Ratings Changes

RBC has been the subject of several research reports. Truist Financial boosted their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a report on Monday, February 3rd. KeyCorp boosted their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley boosted their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $361.20.

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.