RBC Bearings Incorporated (NYSE:RBC) Shares Sold by First Bank & Trust

First Bank & Trust decreased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,121 shares of the industrial products company’s stock after selling 37 shares during the quarter. First Bank & Trust’s holdings in RBC Bearings were worth $634,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in RBC Bearings during the fourth quarter worth $30,000. Golden State Wealth Management LLC acquired a new stake in RBC Bearings during the fourth quarter worth $38,000. UMB Bank n.a. increased its stake in RBC Bearings by 84.9% during the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 79 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in RBC Bearings during the fourth quarter worth $82,000. Finally, Blue Trust Inc. grew its stake in shares of RBC Bearings by 541.9% in the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after buying an additional 233 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. KeyCorp lifted their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Truist Financial lifted their price objective on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley lifted their price objective on RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Finally, Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, RBC Bearings has a consensus rating of “Moderate Buy” and an average target price of $361.20.

RBC Bearings Trading Up 0.3 %

NYSE:RBC opened at $370.54 on Thursday. The firm has a market cap of $11.64 billion, a PE ratio of 50.90, a price-to-earnings-growth ratio of 4.96 and a beta of 1.58. The stock has a fifty day moving average price of $324.36 and a 200 day moving average price of $308.16. RBC Bearings Incorporated has a 12-month low of $241.43 and a 12-month high of $372.83. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34.

Insider Activity at RBC Bearings

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $362.25, for a total transaction of $2,898,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,382 shares of the company’s stock, valued at $4,123,129.50. The trade was a 41.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.95, for a total value of $919,875.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,900 shares of company stock worth $3,963,031. Company insiders own 2.60% of the company’s stock.

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.