Norden Group LLC Purchases 49 Shares of RBC Bearings Incorporated (NYSE:RBC)

Norden Group LLC increased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 780 shares of the industrial products company’s stock after purchasing an additional 49 shares during the period. Norden Group LLC’s holdings in RBC Bearings were worth $233,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp grew its stake in shares of RBC Bearings by 2.4% in the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock worth $253,028,000 after buying an additional 19,962 shares in the last quarter. Geneva Capital Management LLC grew its position in RBC Bearings by 1.4% in the third quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock worth $176,829,000 after acquiring an additional 8,012 shares in the last quarter. Geode Capital Management LLC grew its position in RBC Bearings by 1.1% in the third quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company’s stock worth $144,490,000 after acquiring an additional 5,040 shares in the last quarter. Port Capital LLC increased its stake in RBC Bearings by 0.9% during the third quarter. Port Capital LLC now owns 385,101 shares of the industrial products company’s stock worth $115,292,000 after acquiring an additional 3,525 shares during the last quarter. Finally, Maren Capital LLC raised its position in RBC Bearings by 3.8% during the third quarter. Maren Capital LLC now owns 379,113 shares of the industrial products company’s stock valued at $113,499,000 after purchasing an additional 13,812 shares during the period.

Insider Buying and Selling at RBC Bearings

In related news, CFO Robert M. Sullivan sold 8,000 shares of the business’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 completion of the sale, the chief financial officer now owns 11,382 shares in the company, valued at approximately $4,123,129.50. The trade was 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 the SEC website. Also, Director Michael H. Ambrose sold 400 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the transaction, the director now owns 6,728 shares in the company, valued at $2,441,523.92. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock valued at $3,963,031 in the last three months. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

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

RBC Bearings Trading Down 1.7 %

NYSE RBC opened at $350.08 on Wednesday. The stock has a market cap of $11.00 billion, a PE ratio of 48.09, a PEG 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. The company’s 50-day moving average price is $331.92 and its 200-day moving average price is $313.38. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34.

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.