Orion Portfolio Solutions LLC Lowers Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Orion Portfolio Solutions LLC lowered its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 2.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 20,040 shares of the industrial products company’s stock after selling 595 shares during the period. Orion Portfolio Solutions LLC’s holdings in RBC Bearings were worth $5,995,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RBC. R Squared Ltd bought a new position in RBC Bearings in the 4th quarter valued at $30,000. Golden State Wealth Management LLC purchased a new stake in shares of RBC Bearings in the fourth quarter worth $38,000. UMB Bank n.a. raised its position in shares of RBC Bearings by 84.9% in the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock worth $51,000 after buying an additional 79 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in RBC Bearings during the fourth quarter valued at $82,000. Finally, Quarry LP grew its position in RBC Bearings by 1,003.7% during the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after buying an additional 271 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Truist Financial raised their price target on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a report on Monday, February 3rd. KeyCorp raised their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, 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 research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $361.20.

Insider Activity at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of the 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 directly owns 6,728 shares in the company, valued at $2,441,523.92. This represents a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Hartnett sold 2,500 shares of the firm’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 value 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,900 shares of company stock valued at $3,963,031. Insiders own 2.60% of the company’s stock.

RBC Bearings Stock Down 2.0 %

Shares of NYSE RBC opened at $326.09 on Friday. The stock has a market capitalization of $10.24 billion, a P/E ratio of 44.79, a PEG ratio of 4.42 and a beta of 1.72. RBC Bearings Incorporated has a one year low of $241.43 and a one year high of $372.83. The firm’s 50 day simple moving average is $345.26 and its two-hundred day simple moving average is $319.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

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.