First Bank & Trust Decreases Holdings in RBC Bearings Incorporated (NYSE:RBC)

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

Several other institutional investors and hedge funds have also made changes to their positions in RBC. R Squared Ltd purchased a new stake in shares of RBC Bearings in the 4th quarter valued at about $30,000. Golden State Wealth Management LLC purchased a new stake in shares of RBC Bearings in the 4th quarter valued at about $38,000. UMB Bank n.a. lifted 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 purchasing an additional 79 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of RBC Bearings in the 4th quarter valued at about $82,000. Finally, Blue Trust Inc. lifted its holdings in shares of RBC Bearings by 541.9% in the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 233 shares during the last quarter.

Wall Street Analyst Weigh In

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

RBC Bearings Stock Performance

NYSE RBC opened at $370.54 on Thursday. 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 business’s 50 day moving average is $324.36 and its two-hundred day moving average is $308.16. RBC Bearings Incorporated has a 12-month low of $241.43 and a 12-month high of $372.83. The stock has a market capitalization of $11.64 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 4.96 and a beta of 1.58.

Insiders Place Their Bets

In other RBC Bearings news, CEO Michael J. Hartnett sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.95, for a total transaction of $919,875.00. Following the transaction, the chief executive officer now owns 320,088 shares in the company, valued at approximately $117,776,379.60. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael H. Ambrose sold 400 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $2,441,523.92. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,900 shares of company stock worth $3,963,031. Company insiders own 2.60% of the company’s stock.

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.