Bridge City Capital LLC Increases Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Bridge City Capital LLC increased its position in RBC Bearings Incorporated (NYSE:RBC) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,796 shares of the industrial products company’s stock after acquiring an additional 1,732 shares during the period. RBC Bearings comprises approximately 1.9% of Bridge City Capital LLC’s holdings, making the stock its 12th largest position. Bridge City Capital LLC owned approximately 0.08% of RBC Bearings worth $7,118,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in RBC Bearings by 2.4% in the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock worth $253,028,000 after acquiring an additional 19,962 shares during the last quarter. Geode Capital Management LLC raised its holdings in RBC Bearings by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company’s stock worth $144,490,000 after acquiring an additional 5,040 shares during the last quarter. Port Capital LLC raised its holdings in RBC Bearings by 0.9% in the 3rd quarter. Port Capital LLC now owns 385,101 shares of the industrial products company’s stock worth $115,292,000 after acquiring an additional 3,525 shares during the last quarter. Maren Capital LLC raised its holdings in RBC Bearings by 3.8% in the 3rd quarter. Maren Capital LLC now owns 379,113 shares of the industrial products company’s stock worth $113,499,000 after acquiring an additional 13,812 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its holdings in RBC Bearings by 12.6% in the 3rd quarter. Champlain Investment Partners LLC now owns 365,054 shares of the industrial products company’s stock worth $109,290,000 after acquiring an additional 40,724 shares during the last quarter.

Analyst Upgrades and Downgrades

RBC has been the subject of a number of research analyst reports. KeyCorp lifted their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Morgan Stanley lifted their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Truist Financial lifted their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, William Blair reissued an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $361.20.

Insider Buying and Selling

In other RBC Bearings news, 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 value of $919,875.00. Following the sale, the chief executive officer now owns 320,088 shares in the company, valued at $117,776,379.60. The trade was a 0.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert M. Sullivan sold 8,000 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was 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 in the company, valued at approximately $4,123,129.50. The trade was a 41.28 % 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 valued at $3,963,031. Company insiders own 2.60% of the company’s stock.

RBC Bearings Trading Down 1.2 %

Shares of RBC Bearings stock opened at $329.52 on Friday. The company has a market capitalization of $10.35 billion, a P/E ratio of 45.26, a P/E/G ratio of 4.42 and a beta of 1.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The company has a fifty day moving average of $342.69 and a 200 day moving average of $317.58. 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.