Sei Investments Co. Grows Position in RBC Bearings Incorporated (NYSE:RBC)

Sei Investments Co. increased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 15.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,337 shares of the industrial products company’s stock after purchasing an additional 18,282 shares during the quarter. Sei Investments Co. owned 0.42% of RBC Bearings worth $39,886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. American Century Companies Inc. boosted its stake in RBC Bearings by 22.4% during the fourth quarter. American Century Companies Inc. now owns 252,905 shares of the industrial products company’s stock worth $75,654,000 after buying an additional 46,270 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of RBC Bearings by 4.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 28,911 shares of the industrial products company’s stock worth $8,648,000 after purchasing an additional 1,341 shares during the period. Whittier Trust Co. increased its holdings in RBC Bearings by 3.6% in the 4th quarter. Whittier Trust Co. now owns 56,924 shares of the industrial products company’s stock valued at $17,027,000 after purchasing an additional 1,955 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in RBC Bearings by 7.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,899 shares of the industrial products company’s stock valued at $2,064,000 after purchasing an additional 494 shares during the period. Finally, Xponance Inc. lifted its stake in RBC Bearings by 10.9% during the fourth quarter. Xponance Inc. now owns 3,440 shares of the industrial products company’s stock worth $1,029,000 after purchasing an additional 338 shares in the last quarter.

RBC Bearings Stock Up 1.5 %

Shares of RBC Bearings stock opened at $334.85 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a 52-week low of $241.43 and a 52-week high of $372.83. The company has a market capitalization of $10.52 billion, a P/E ratio of 46.00, a P/E/G ratio of 4.42 and a beta of 1.72. The company has a 50 day moving average of $343.42 and a 200 day moving average of $318.16.

Insider Activity

In related news, Director Michael H. Ambrose sold 400 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the transaction, the director now owns 6,728 shares of the company’s stock, valued at $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 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. In the last three months, insiders have sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RBC shares. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. KeyCorp increased their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Truist Financial upped 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. Finally, Morgan Stanley raised their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, RBC Bearings currently has an average rating of “Moderate Buy” and a consensus target price of $361.20.

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.