Bradley Foster & Sargent Inc. CT Sells 893 Shares of RBC Bearings Incorporated (NYSE:RBC)

Bradley Foster & Sargent Inc. CT decreased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 137,399 shares of the industrial products company’s stock after selling 893 shares during the quarter. Bradley Foster & Sargent Inc. CT owned 0.44% of RBC Bearings worth $41,102,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. State Street Corp lifted its position in RBC Bearings by 2.4% during the third quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock valued at $253,028,000 after purchasing an additional 19,962 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of RBC Bearings by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company’s stock worth $221,793,000 after buying an additional 12,375 shares during the period. Geneva Capital Management LLC lifted its position in shares of RBC Bearings by 1.4% during the 3rd quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock valued at $176,829,000 after buying an additional 8,012 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of RBC Bearings by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company’s stock valued at $144,490,000 after acquiring an additional 5,040 shares during the period. Finally, Port Capital LLC increased its holdings in RBC Bearings by 0.9% in the 3rd quarter. Port Capital LLC now owns 385,101 shares of the industrial products company’s stock worth $115,292,000 after acquiring an additional 3,525 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RBC. Morgan Stanley lifted their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. KeyCorp increased their target price on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, 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 report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, RBC Bearings currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.20.

RBC Bearings Price Performance

RBC stock opened at $368.79 on Friday. The firm has a market capitalization of $11.58 billion, a P/E ratio of 50.66, a price-to-earnings-growth ratio of 4.98 and a beta of 1.58. RBC Bearings Incorporated has a 52 week low of $241.43 and a 52 week high of $372.83. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $325.12 and a two-hundred day simple moving average of $308.59.

Insider Transactions at RBC Bearings

In other 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 in the company, valued at approximately $4,123,129.50. This trade represents a 41.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Hartnett sold 2,500 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the transaction, the chief executive officer now owns 320,088 shares in the company, valued at $117,776,379.60. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is currently owned by company insiders.

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.