RBC Bearings Incorporated (NYSE:RBC) Stock Position Raised by Curi RMB Capital LLC

Curi RMB Capital LLC boosted its holdings in RBC Bearings Incorporated (NYSE:RBC) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,830 shares of the industrial products company’s stock after acquiring an additional 925 shares during the period. Curi RMB Capital LLC owned about 0.17% of RBC Bearings worth $15,804,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RBC. Barclays PLC boosted its position in RBC Bearings by 162.2% during the 3rd quarter. Barclays PLC now owns 21,030 shares of the industrial products company’s stock valued at $6,296,000 after purchasing an additional 13,010 shares during the period. SkyView Investment Advisors LLC grew its position in shares of RBC Bearings by 1.6% during the third quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company’s stock worth $1,084,000 after acquiring an additional 58 shares during the last quarter. Tidal Investments LLC lifted its position in RBC Bearings by 36.0% in the 3rd quarter. Tidal Investments LLC now owns 3,016 shares of the industrial products company’s stock valued at $903,000 after purchasing an additional 798 shares during the last quarter. Synovus Financial Corp grew its position in RBC Bearings by 6.2% in the 3rd quarter. Synovus Financial Corp now owns 13,830 shares of the industrial products company’s stock worth $4,141,000 after purchasing an additional 805 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in RBC Bearings by 6.7% in the 3rd quarter. Retirement Systems of Alabama now owns 38,245 shares of the industrial products company’s stock valued at $11,450,000 after acquiring an additional 2,405 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. KeyCorp upped their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Truist Financial reduced their target price on shares of RBC Bearings from $410.00 to $375.00 and set a “buy” rating for the company in a report on Thursday. Finally, Morgan Stanley raised 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $354.20.

Insider Activity at RBC Bearings

In related news, CFO Robert M. Sullivan sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was 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 of the company’s stock, valued at approximately $4,123,129.50. This trade represents a 41.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael H. Ambrose sold 400 shares of RBC Bearings 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 completion of 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. In the last 90 days, insiders sold 10,900 shares of company stock valued at $3,963,031. Insiders own 2.60% of the company’s stock.

RBC Bearings Stock Performance

Shares of RBC stock opened at $321.48 on Friday. The firm has a market cap of $10.10 billion, a P/E ratio of 44.16, a PEG ratio of 4.42 and a beta of 1.60. The stock’s 50-day moving average is $339.89 and its two-hundred day moving average is $322.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two 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.