TimesSquare Capital Management LLC Increases Holdings in RBC Bearings Incorporated (NYSE:RBC)

TimesSquare Capital Management LLC grew its holdings in RBC Bearings Incorporated (NYSE:RBC) by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,390 shares of the industrial products company’s stock after acquiring an additional 6,785 shares during the period. TimesSquare Capital Management LLC owned about 0.31% of RBC Bearings worth $29,133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in RBC. Curated Wealth Partners LLC lifted its position in shares of RBC Bearings by 1.6% in the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock worth $595,000 after buying an additional 32 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of RBC Bearings by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock worth $273,000 after buying an additional 47 shares in the last quarter. Marco Investment Management LLC lifted its position in shares of RBC Bearings by 6.6% in the third quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company’s stock worth $242,000 after buying an additional 50 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of RBC Bearings by 2.6% in the third quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company’s stock worth $633,000 after buying an additional 53 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its position in shares of RBC Bearings by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company’s stock worth $1,084,000 after buying an additional 58 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Michael H. Ambrose sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total transaction of $145,156.00. Following the transaction, the director now owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Hartnett sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were 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 in the company, valued at approximately $117,776,379.60. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,900 shares of company stock valued at $3,963,031 over the last ninety days. 2.60% of the stock is owned by insiders.

RBC Bearings Trading Up 1.2 %

Shares of NYSE RBC opened at $369.06 on Wednesday. The business’s 50 day moving average is $323.66 and its two-hundred day moving average is $307.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings Incorporated has a 1-year low of $241.43 and a 1-year high of $372.51. The stock has a market capitalization of $11.59 billion, a P/E ratio of 50.70, a PEG ratio of 4.89 and a beta of 1.58.

RBC Bearings 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.