Whittier Trust Co. of Nevada Inc. Raises Position in RBC Bearings Incorporated (NYSE:RBC)

Whittier Trust Co. of Nevada Inc. boosted its stake in RBC Bearings Incorporated (NYSE:RBC) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,911 shares of the industrial products company’s stock after buying an additional 1,341 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in RBC Bearings were worth $8,648,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of 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 purchasing an additional 19,962 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of RBC Bearings by 1.1% during the third quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company’s stock valued at $144,490,000 after purchasing an additional 5,040 shares during the last quarter. Port Capital LLC lifted its holdings in shares of RBC Bearings by 0.9% during the third quarter. Port Capital LLC now owns 385,101 shares of the industrial products company’s stock valued at $115,292,000 after purchasing an additional 3,525 shares during the last quarter. Maren Capital LLC lifted its holdings in shares of 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 last quarter. Finally, Champlain Investment Partners LLC lifted its holdings in shares of RBC Bearings by 12.6% during the third quarter. Champlain Investment Partners LLC now owns 365,054 shares of the industrial products company’s stock valued at $109,290,000 after purchasing an additional 40,724 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their target price for the company from $330.00 to $335.00 in a report on Thursday, November 21st. KeyCorp lifted their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Truist Financial raised their price target on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley raised their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $361.20.

Insiders Place Their Bets

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction that occurred on Thursday, February 13th. The shares were 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 of the company’s stock, valued at approximately $4,123,129.50. The trade was a 41.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.95, for a total transaction of $919,875.00. Following the completion of the sale, the chief executive officer now directly 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 valued at $3,963,031. Company insiders own 2.60% of the company’s stock.

RBC Bearings Trading Down 1.5 %

NYSE:RBC opened at $333.25 on Friday. 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 Incorporated has a 12 month low of $241.43 and a 12 month high of $372.83. The company has a market cap of $10.47 billion, a PE ratio of 45.78, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The company has a 50 day simple moving average of $342.00 and a two-hundred day simple moving average of $317.16.

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.