Aigen Investment Management LP Has $336,000 Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Aigen Investment Management LP trimmed its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 35.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,123 shares of the industrial products company’s stock after selling 605 shares during the period. Aigen Investment Management LP’s holdings in RBC Bearings were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. State Street Corp raised its position in RBC Bearings by 2.4% during the third quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock valued at $253,028,000 after buying an additional 19,962 shares during the period. Geneva Capital Management LLC raised its position in RBC Bearings by 1.4% during the third quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock valued at $176,829,000 after buying an additional 8,012 shares during the period. Geode Capital Management LLC raised its position in RBC Bearings by 1.1% during the third quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company’s stock valued at $144,490,000 after buying an additional 5,040 shares during the period. Port Capital LLC raised its position in RBC Bearings by 0.9% during the third quarter. Port Capital LLC now owns 385,101 shares of the industrial products company’s stock valued at $115,292,000 after buying an additional 3,525 shares during the period. Finally, Maren Capital LLC raised its position in RBC Bearings by 3.8% during the third quarter. Maren Capital LLC now owns 379,113 shares of the industrial products company’s stock valued at $113,499,000 after buying an additional 13,812 shares during the period.

Insider Transactions at RBC Bearings

In other news, Director Michael H. Ambrose sold 400 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of the sale, the director now owns 6,728 shares in the company, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the chief financial officer now owns 11,382 shares of the company’s stock, valued at approximately $4,123,129.50. The trade was a 41.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Truist Financial boosted their target price on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. KeyCorp boosted their target price on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America downgraded RBC Bearings from a “buy” rating to a “neutral” rating and boosted their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, Morgan Stanley boosted their target price on RBC Bearings from $360.00 to $390.00 and gave the company 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $361.20.

RBC Bearings Stock Performance

RBC opened at $353.30 on Friday. The company has a market cap of $11.10 billion, a PE ratio of 48.53, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The stock has a 50-day moving average of $334.91 and a 200-day moving average of $314.57. RBC Bearings Incorporated has a 52-week low of $241.43 and a 52-week high of $372.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43.

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.