RBC Bearings Incorporated (NYSE:RBC) Shares Purchased by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its stake in RBC Bearings Incorporated (NYSE:RBC) by 196.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 677 shares of the industrial products company’s stock after purchasing an additional 449 shares during the period. Jones Financial Companies Lllp’s holdings in RBC Bearings were worth $203,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in RBC Bearings during the fourth quarter worth about $30,000. Golden State Wealth Management LLC purchased a new stake in RBC Bearings in the fourth quarter valued at approximately $38,000. UMB Bank n.a. grew its holdings in RBC Bearings by 84.9% in the fourth 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 period. Harbor Investment Advisory LLC purchased a new stake in RBC Bearings in the fourth quarter valued at approximately $82,000. Finally, Quarry LP grew its holdings in RBC Bearings by 1,003.7% in the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 271 shares during the period.

RBC Bearings Stock Performance

NYSE:RBC opened at $330.93 on Friday. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83. 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 50-day moving average of $337.45 and a 200-day moving average of $315.58. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 45.46, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72.

Analysts Set New Price Targets

Several research firms have issued reports on RBC. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. Truist Financial increased their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. KeyCorp increased their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley upped their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $361.20.

Insider Activity

In other news, Director Michael H. Ambrose sold 400 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of the transaction, the director now owns 6,728 shares in the company, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael J. Hartnett sold 2,500 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were 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 of the company’s stock, valued at approximately $117,776,379.60. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,900 shares of company stock worth $3,963,031. Corporate insiders own 2.60% of the company’s stock.

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.