Argent Trust Co Acquires Shares of 765 RBC Bearings Incorporated (NYSE:RBC)

Argent Trust Co bought a new stake in RBC Bearings Incorporated (NYSE:RBC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 765 shares of the industrial products company’s stock, valued at approximately $229,000.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in RBC Bearings during the fourth quarter valued at about $30,000. Golden State Wealth Management LLC bought a new stake in shares of RBC Bearings in the fourth quarter valued at approximately $38,000. UMB Bank n.a. lifted its stake in shares of RBC Bearings by 84.9% during the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock valued at $51,000 after buying an additional 79 shares in the last quarter. Harbor Investment Advisory LLC bought a new position in RBC Bearings in the 4th quarter worth approximately $82,000. Finally, Venturi Wealth Management LLC grew its stake in RBC Bearings by 2,405.3% in the 4th quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company’s stock valued at $142,000 after buying an additional 457 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RBC shares. Truist Financial increased their target price on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. KeyCorp raised their target price 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, Morgan Stanley upped their price target on RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $361.20.

Insider Transactions at RBC Bearings

In related news, CEO Michael J. Hartnett sold 2,500 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total value of $919,875.00. Following the completion of the transaction, the chief executive officer now directly owns 320,088 shares in the company, valued at approximately $117,776,379.60. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael H. Ambrose sold 400 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value of $145,156.00. Following the sale, the director now owns 6,728 shares in the company, valued at $2,441,523.92. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is owned by corporate insiders.

RBC Bearings Price Performance

RBC Bearings stock opened at $332.52 on Friday. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 45.68, a PEG ratio of 4.42 and a beta of 1.60. 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 business has a 50-day simple moving average of $343.75 and a 200 day simple moving average of $321.48. RBC Bearings Incorporated has a 52 week low of $241.43 and a 52 week high of $372.83.

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.