New Age Alpha Advisors LLC Buys New Position in RBC Bearings Incorporated (NYSE:RBC)

New Age Alpha Advisors LLC purchased a new stake in shares of RBC Bearings Incorporated (NYSE:RBC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,337 shares of the industrial products company’s stock, valued at approximately $1,896,000.

Other institutional investors have also modified their holdings of the company. Torray Investment Partners LLC boosted its position in shares of RBC Bearings by 0.3% during the 4th quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock valued at $2,533,000 after purchasing an additional 28 shares in the last quarter. Curated Wealth Partners LLC raised its position in shares of RBC Bearings by 1.6% during 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 during the period. Argonautica Private Wealth Management Inc. lifted its holdings in shares of RBC Bearings by 3.4% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 46 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of RBC Bearings by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock valued at $273,000 after purchasing an additional 47 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in RBC Bearings by 6.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 762 shares of the industrial products company’s stock worth $228,000 after purchasing an additional 47 shares in the last quarter.

RBC Bearings Trading Down 2.0 %

Shares of NYSE:RBC opened at $326.09 on Monday. RBC Bearings Incorporated has a 1 year low of $241.43 and a 1 year high of $372.83. The firm has a fifty day moving average price of $345.26 and a 200 day moving average price of $319.51. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $10.24 billion, a PE ratio of 44.79, a P/E/G ratio of 4.42 and a beta of 1.72.

Insider Activity

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 transaction, the chief executive officer now directly owns 320,088 shares in the company, valued at approximately $117,776,379.60. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $362.25, for a total value of $2,898,000.00. Following the completion of the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 10,900 shares of company stock valued at $3,963,031. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

RBC has been the topic of several analyst reports. 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. Morgan Stanley lifted their price target on RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, KeyCorp upped their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.