Orion Portfolio Solutions LLC Has $6 Million Holdings in RBC Bearings Incorporated (NYSE:RBC)

Orion Portfolio Solutions LLC lowered its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 2.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 20,040 shares of the industrial products company’s stock after selling 595 shares during the period. Orion Portfolio Solutions LLC owned approximately 0.06% of RBC Bearings worth $5,995,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBC. R Squared Ltd bought a new position in shares of RBC Bearings in the fourth quarter valued at approximately $30,000. Golden State Wealth Management LLC bought a new position in RBC Bearings during the 4th quarter valued at $38,000. UMB Bank n.a. boosted its holdings in RBC Bearings by 84.9% during the 4th 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 bought a new stake in shares of RBC Bearings in the 4th quarter worth $82,000. Finally, Quarry LP raised its holdings in shares of RBC Bearings by 1,003.7% in the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 271 shares during the last quarter.

RBC Bearings Trading Down 2.0 %

NYSE:RBC opened at $326.09 on Friday. 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. The firm’s 50 day moving average is $345.26 and its 200 day moving average is $319.26. The stock has a market capitalization of $10.24 billion, a PE ratio of 44.79, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72.

Insider Buying and Selling at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the sale, the director now directly owns 6,728 shares in the company, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the sale, the chief executive officer now directly owns 320,088 shares in the company, valued at approximately $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. Insiders have sold a total of 10,900 shares of company stock worth $3,963,031 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on RBC. Morgan Stanley boosted their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Truist Financial upped their target price on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, 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. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.