RBC Bearings Incorporated (NYSE:RBC) Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 15.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 133,337 shares of the industrial products company’s stock after purchasing an additional 18,282 shares during the period. Sei Investments Co.’s holdings in RBC Bearings were worth $39,886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Torray Investment Partners LLC grew its stake in RBC Bearings by 0.3% during the 4th quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock worth $2,533,000 after buying an additional 28 shares during the last quarter. Curated Wealth Partners LLC grew its position in shares of RBC Bearings by 1.6% during the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock worth $595,000 after acquiring an additional 32 shares during the last quarter. Argonautica Private Wealth Management Inc. increased its holdings in shares of RBC Bearings by 3.4% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company’s stock valued at $418,000 after acquiring an additional 46 shares during the period. CIBC Asset Management Inc raised its position in RBC Bearings by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock valued at $273,000 after purchasing an additional 47 shares during the last quarter. Finally, Norden Group LLC boosted its stake in RBC Bearings by 6.7% during the 4th quarter. Norden Group LLC now owns 780 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 49 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RBC shares. Morgan Stanley lifted their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. KeyCorp increased their price objective on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Finally, Truist Financial increased their price target on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Three 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, RBC Bearings has a consensus rating of “Moderate Buy” and a consensus price target of $361.20.

Insider Activity

In other news, CEO Michael J. Hartnett sold 2,500 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael H. Ambrose sold 400 shares of the company’s stock in a transaction 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 sale, the director now directly owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. This trade represents a 5.61 % 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 valued at $3,963,031 in the last three months. Corporate insiders own 2.60% of the company’s stock.

RBC Bearings Price Performance

Shares of RBC Bearings stock opened at $334.85 on Tuesday. The stock has a market capitalization of $10.52 billion, a P/E ratio of 46.00, a PEG ratio of 4.42 and a beta of 1.72. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The business’s fifty day moving average price is $343.42 and its 200 day moving average price is $318.16. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83.

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.