743 Shares in RBC Bearings Incorporated (NYSE:RBC) Acquired by Headlands Technologies LLC

Headlands Technologies LLC bought a new position in shares of RBC Bearings Incorporated (NYSE:RBC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 743 shares of the industrial products company’s stock, valued at approximately $222,000.

Several other large investors have also added to or reduced their stakes in the company. Torray Investment Partners LLC lifted its holdings in shares of RBC Bearings by 0.3% in the fourth quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock worth $2,533,000 after buying an additional 28 shares in the last quarter. Curated Wealth Partners LLC grew its stake in 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 valued at $595,000 after acquiring an additional 32 shares in the last quarter. Argonautica Private Wealth Management Inc. increased its holdings in RBC Bearings by 3.4% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company’s stock valued at $418,000 after acquiring an additional 46 shares during the last quarter. CIBC Asset Management Inc lifted its stake in RBC Bearings by 5.4% in the 4th 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. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of RBC Bearings by 6.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 762 shares of the industrial products company’s stock valued at $228,000 after purchasing an additional 47 shares during the last quarter.

Insiders Place Their Bets

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $362.25, for a total value of $2,898,000.00. Following the completion of the sale, the chief financial officer now owns 11,382 shares of the company’s stock, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 6,728 shares of the company’s stock, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,900 shares of company stock valued at $3,963,031 over the last three months. 2.60% of the stock is owned by company insiders.

RBC Bearings Price Performance

Shares of RBC Bearings stock opened at $308.85 on Friday. The stock has a 50 day moving average price of $345.86 and a 200-day moving average price of $320.33. RBC Bearings Incorporated has a one year low of $241.43 and a one year high of $372.83. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of 42.42, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley lifted 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. KeyCorp lifted 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. Finally, Truist Financial upped their price objective 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, RBC Bearings presently has an average rating of “Moderate Buy” and an average price target of $361.20.

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.