RBC Bearings Incorporated (NYSE:RBC) Stock Position Cut by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 76.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 990 shares of the industrial products company’s stock after selling 3,291 shares during the quarter. SG Americas Securities LLC’s holdings in RBC Bearings were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Jane Street Group LLC raised its holdings in RBC Bearings by 18.5% during the third quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock worth $4,951,000 after purchasing an additional 2,584 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in shares of RBC Bearings by 41.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock valued at $8,896,000 after purchasing an additional 8,725 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of RBC Bearings by 17.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after buying an additional 13,395 shares in the last quarter. Holocene Advisors LP lifted its holdings in shares of RBC Bearings by 69.4% in the third quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company’s stock valued at $3,711,000 after buying an additional 5,078 shares during the period. Finally, State Street Corp boosted its stake in RBC Bearings by 2.4% during the third quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock valued at $253,028,000 after buying an additional 19,962 shares in the last quarter.

RBC Bearings Stock Performance

RBC Bearings stock opened at $369.40 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The company has a market cap of $11.60 billion, a P/E ratio of 50.74, a price-to-earnings-growth ratio of 4.81 and a beta of 1.58. RBC Bearings Incorporated has a fifty-two week low of $240.36 and a fifty-two week high of $372.51. The firm’s 50 day simple moving average is $318.64 and its 200-day simple moving average is $302.83.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. 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 report on Tuesday. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and increased their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Truist Financial lifted their price target on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday. Finally, KeyCorp increased their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $348.50.

Insiders Place Their Bets

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the firm’s 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 approximately $2,441,523.92. This trade represents a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.