RBC Bearings Incorporated (NYSE:RBC) Shares Acquired by Axiom Investors LLC DE

Axiom Investors LLC DE lifted its position in RBC Bearings Incorporated (NYSE:RBC) by 55.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 42,040 shares of the industrial products company’s stock after acquiring an additional 14,916 shares during the period. Axiom Investors LLC DE’s holdings in RBC Bearings were worth $12,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its stake in RBC Bearings by 27.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,561 shares of the industrial products company’s stock valued at $467,000 after purchasing an additional 332 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in RBC Bearings by 14.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,896 shares of the industrial products company’s stock valued at $1,165,000 after buying an additional 477 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in RBC Bearings in the 4th quarter worth approximately $1,896,000. Norges Bank purchased a new position in RBC Bearings during the 4th quarter worth approximately $88,184,000. Finally, Blair William & Co. IL raised its position in RBC Bearings by 89.4% during the 4th quarter. Blair William & Co. IL now owns 185,600 shares of the industrial products company’s stock worth $55,520,000 after buying an additional 87,624 shares during the last quarter.

Insider Activity

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $362.25, for a total value of $2,898,000.00. Following the sale, the chief financial officer now directly owns 11,382 shares of the company’s stock, valued at approximately $4,123,129.50. This trade represents a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the company’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 directly owns 320,088 shares of the company’s stock, 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. Insiders have sold 10,900 shares of company stock worth $3,963,031 in the last ninety days. Company insiders own 2.60% of the company’s stock.

RBC Bearings Stock Down 2.0 %

RBC opened at $326.09 on Monday. The company has a fifty day moving average of $345.26 and a two-hundred day moving average of $319.51. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of 44.79, a PEG ratio of 4.42 and a beta of 1.72. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week high of $372.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Truist Financial increased their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley increased their price target on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, KeyCorp boosted their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.