Xponance Inc. Grows Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Xponance Inc. grew its stake in RBC Bearings Incorporated (NYSE:RBC) by 10.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,440 shares of the industrial products company’s stock after purchasing an additional 338 shares during the period. Xponance Inc.’s holdings in RBC Bearings were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of RBC Bearings during the 4th quarter worth $30,000. Golden State Wealth Management LLC purchased a new stake in shares of RBC Bearings in the 4th quarter valued at approximately $38,000. UMB Bank n.a. grew its stake in shares of RBC Bearings by 84.9% in the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock valued at $51,000 after buying an additional 79 shares during the period. Harbor Investment Advisory LLC purchased a new stake in shares of RBC Bearings during the 4th quarter valued at approximately $82,000. Finally, Quarry LP lifted its holdings in RBC Bearings by 1,003.7% in the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock valued at $89,000 after acquiring an additional 271 shares during the last quarter.

RBC Bearings Stock Down 1.2 %

Shares of NYSE:RBC opened at $329.52 on Monday. The firm’s 50-day moving average is $342.69 and its two-hundred day moving average is $317.81. 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 1 year low of $241.43 and a 1 year high of $372.83. The firm has a market capitalization of $10.35 billion, a PE ratio of 45.26, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72.

Insider Buying and Selling

In other news, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.95, for a total value of $919,875.00. Following the completion of the transaction, the chief executive officer now owns 320,088 shares in the company, valued at approximately $117,776,379.60. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael H. Ambrose sold 400 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 6,728 shares in the company, valued at $2,441,523.92. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,900 shares of company stock valued at $3,963,031 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on RBC. William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. 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. Truist Financial lifted their price target on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley upped their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus 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.