RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd decreased its stake in RBC Bearings Incorporated (NYSE:RBC) by 60.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,169 shares of the industrial products company’s stock after selling 1,788 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in RBC Bearings were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jane Street Group LLC boosted its position in shares of RBC Bearings by 18.5% in the 3rd quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock valued at $4,951,000 after purchasing an additional 2,584 shares during the period. State Street Corp boosted its position in shares of RBC Bearings by 2.4% in the 3rd 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 during the period. Bank of New York Mellon Corp boosted its position in shares of RBC Bearings by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company’s stock valued at $59,581,000 after purchasing an additional 1,103 shares during the period. GAMMA Investing LLC boosted its position in shares of RBC Bearings by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 517 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 77 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of RBC Bearings by 1.1% in 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 purchasing an additional 5,040 shares during the period.

Insider Transactions at RBC Bearings

In other news, CEO Michael J. Hartnett sold 2,500 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was 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. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert M. Sullivan sold 8,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 11,382 shares of the company’s stock, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,900 shares of company stock valued at $3,963,031 in the last three months. Corporate insiders own 2.60% of the company’s stock.

RBC Bearings Trading Up 9.3 %

Shares of NYSE RBC opened at $333.01 on Thursday. RBC Bearings Incorporated has a one year low of $241.43 and a one year high of $372.83. The firm has a market capitalization of $10.46 billion, a PE ratio of 45.74, a PEG ratio of 4.42 and a beta of 1.60. 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 business has a 50-day moving average price of $345.28 and a two-hundred day moving average price of $321.07.

Analyst Ratings Changes

RBC has been the subject of a number of recent analyst reports. KeyCorp increased their price target on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. 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 report on Tuesday, February 4th. Finally, Truist Financial raised their price objective on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RBC Bearings presently has a consensus rating of “Moderate Buy” and an average price target of $361.20.

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.