Natixis Advisors LLC Sells 897 Shares of RBC Bearings Incorporated (NYSE:RBC)

Natixis Advisors LLC lowered its holdings in RBC Bearings Incorporated (NYSE:RBC) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,547 shares of the industrial products company’s stock after selling 897 shares during the quarter. Natixis Advisors LLC owned 0.33% of RBC Bearings worth $31,274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Torray Investment Partners LLC boosted its position in 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 valued at $2,533,000 after buying an additional 28 shares in the last quarter. Curated Wealth Partners LLC boosted its position in RBC Bearings by 1.6% in the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock valued at $595,000 after buying an additional 32 shares in the last quarter. Argonautica Private Wealth Management Inc. boosted its position in RBC Bearings by 3.4% in 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 buying an additional 46 shares in the last quarter. CIBC Asset Management Inc boosted its position in RBC Bearings by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock valued at $273,000 after buying an additional 47 shares in the last quarter. Finally, Norden Group LLC boosted its position in RBC Bearings by 6.7% in the fourth quarter. Norden Group LLC now owns 780 shares of the industrial products company’s stock valued at $233,000 after buying an additional 49 shares in the last quarter.

Insider Activity at RBC Bearings

In related news, CFO Robert M. Sullivan sold 8,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 11,382 shares in the company, valued at $4,123,129.50. This represents a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Hartnett sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 10,900 shares of company stock worth $3,963,031 over the last ninety days. Company insiders own 2.60% of the company’s stock.

RBC Bearings Trading Up 1.5 %

Shares of NYSE RBC opened at $336.36 on Monday. The company’s 50 day simple moving average is $338.81 and its 200 day simple moving average is $316.29. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week high of $372.83. The firm has a market capitalization of $10.56 billion, a P/E ratio of 46.20, a P/E/G ratio of 4.42 and a beta of 1.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

Analyst Ratings Changes

RBC has been the topic of a number of recent analyst reports. William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Morgan Stanley boosted 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. Truist Financial boosted their price target 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. Bank of America lowered 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 research report on Thursday, November 21st. Finally, KeyCorp upped their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $361.20.

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.