Weatherly Asset Management L. P. Makes New $216,000 Investment in RBC Bearings Incorporated (NYSE:RBC)

Weatherly Asset Management L. P. acquired a new position in shares of RBC Bearings Incorporated (NYSE:RBC) during the fourth quarter, HoldingsChannel reports. The fund acquired 723 shares of the industrial products company’s stock, valued at approximately $216,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Curated Wealth Partners LLC grew its holdings in RBC Bearings by 1.6% during the 4th quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock worth $595,000 after acquiring an additional 32 shares during the last quarter. Marco Investment Management LLC lifted its position in RBC Bearings by 6.6% during the 3rd quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 50 shares during the period. Raymond James Trust N.A. lifted its position in RBC Bearings by 2.6% during the 3rd quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company’s stock valued at $633,000 after purchasing an additional 53 shares during the period. SkyView Investment Advisors LLC lifted its position in RBC Bearings by 1.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company’s stock valued at $1,084,000 after purchasing an additional 58 shares during the period. Finally, Mather Group LLC. lifted its position in RBC Bearings by 16.9% during the 4th quarter. Mather Group LLC. now owns 499 shares of the industrial products company’s stock valued at $149,000 after purchasing an additional 72 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RBC shares. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their target price for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. Truist Financial upped their target price 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. William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Morgan Stanley increased their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, KeyCorp increased their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $348.50.

Insiders Place Their Bets

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the firm’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 transaction of $145,156.00. Following the sale, the director now directly owns 6,728 shares in the company, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael J. Hartnett sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.95, for a total transaction 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. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

RBC Bearings Stock Performance

Shares of NYSE:RBC opened at $362.93 on Tuesday. 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 company has a market capitalization of $11.40 billion, a price-to-earnings ratio of 49.85, a P/E/G ratio of 4.90 and a beta of 1.58. The firm’s 50 day simple moving average is $320.23 and its 200 day simple moving average is $304.50. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week high of $372.51.

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.