RBC Bearings Incorporated (NYSE:RBC) Shares Sold by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP trimmed its position in RBC Bearings Incorporated (NYSE:RBC) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,248 shares of the industrial products company’s stock after selling 330 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in RBC Bearings were worth $3,664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. raised its holdings in RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after buying an additional 75 shares during the period. R Squared Ltd acquired a new stake in shares of RBC Bearings in the fourth quarter worth $30,000. Golden State Wealth Management LLC acquired a new stake in shares of RBC Bearings in the fourth quarter worth $38,000. Harbor Investment Advisory LLC purchased a new position in shares of RBC Bearings in the 4th quarter valued at $82,000. Finally, Blue Trust Inc. lifted its holdings in shares of RBC Bearings by 541.9% during the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 233 shares in the last quarter.

RBC Bearings Stock Performance

RBC Bearings stock opened at $364.76 on Wednesday. RBC Bearings Incorporated has a 52 week low of $241.43 and a 52 week high of $372.51. 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 cap of $11.46 billion, a P/E ratio of 50.11, a price-to-earnings-growth ratio of 4.90 and a beta of 1.58. The stock has a 50 day moving average of $320.71 and a 200-day moving average of $305.01.

Insider Activity at RBC Bearings

In related news, CEO Michael J. Hartnett sold 2,500 shares of the business’s 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 sale, the chief executive officer now directly owns 320,088 shares of the company’s stock, valued at $117,776,379.60. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael H. Ambrose sold 400 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the transaction, the director now directly owns 6,728 shares in the company, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley boosted their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. KeyCorp boosted their price target on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Truist Financial increased their price objective 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 reissued an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Finally, 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 note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $348.50.

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.