RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC reduced its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,782 shares of the industrial products company’s stock after selling 51 shares during the period. Sanctuary Advisors LLC’s holdings in RBC Bearings were worth $1,218,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of RBC Bearings in the fourth quarter worth approximately $30,000. Golden State Wealth Management LLC acquired a new stake in shares of RBC Bearings in the fourth quarter worth approximately $38,000. UMB Bank n.a. boosted 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 acquiring an additional 79 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of RBC Bearings in the fourth quarter worth approximately $82,000. Finally, Blue Trust Inc. boosted its position in shares of RBC Bearings by 541.9% in the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 233 shares during the last quarter.

RBC Bearings Stock Up 0.0 %

Shares of NYSE:RBC opened at $357.56 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. The company has a fifty day simple moving average of $327.09 and a 200 day simple moving average of $310.79. The firm has a market cap of $11.23 billion, a PE ratio of 49.12, a price-to-earnings-growth ratio of 4.42 and a beta of 1.58. RBC Bearings Incorporated has a 12-month low of $241.43 and a 12-month high of $372.83.

Insider Buying and Selling

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 11,382 shares in the company, valued at $4,123,129.50. The trade was a 41.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael H. Ambrose sold 400 shares of the business’s stock in a transaction 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 sale, the director now owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,900 shares of company stock worth $3,963,031. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on RBC shares. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price target for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. Morgan Stanley lifted 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. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Truist Financial lifted their price target on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, KeyCorp lifted their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” 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.com, the stock has an average rating of “Moderate Buy” and an average 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.