Swiss National Bank Purchases 700 Shares of RBC Bearings Incorporated (NYSE:RBC)

Swiss National Bank grew its position in RBC Bearings Incorporated (NYSE:RBC) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,590 shares of the industrial products company’s stock after buying an additional 700 shares during the period. Swiss National Bank owned 0.17% of RBC Bearings worth $16,330,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. R Squared Ltd bought a new stake in shares of RBC Bearings in the 4th quarter valued at about $30,000. Golden State Wealth Management LLC bought a new stake in shares of RBC Bearings in the 4th quarter valued at about $38,000. UMB Bank n.a. boosted its holdings in shares of RBC Bearings by 84.9% in the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock valued at $51,000 after buying an additional 79 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in RBC Bearings in the 4th quarter worth approximately $82,000. Finally, Quarry LP boosted its stake in RBC Bearings by 1,003.7% in the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 271 shares in the last quarter.

RBC Bearings Stock Performance

Shares of NYSE RBC opened at $334.36 on Wednesday. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a 12 month low of $241.43 and a 12 month high of $372.83. The company has a 50 day simple moving average of $340.49 and a two-hundred day simple moving average of $316.90. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 45.93, a PEG ratio of 4.42 and a beta of 1.72.

Analysts Set New Price Targets

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

Insider Buying and Selling at RBC Bearings

In other news, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $362.25, for a total transaction of $2,898,000.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the director now directly owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,900 shares of company stock worth $3,963,031. Company insiders own 2.60% of the company’s stock.

RBC Bearings Company 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.