RBC Bearings Incorporated (NYSE:RBC) Stock Holdings Lowered by Geneva Capital Management LLC

Geneva Capital Management LLC trimmed its position in RBC Bearings Incorporated (NYSE:RBC) by 1.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 583,665 shares of the industrial products company’s stock after selling 6,985 shares during the period. RBC Bearings makes up 3.0% of Geneva Capital Management LLC’s holdings, making the stock its 5th biggest holding. Geneva Capital Management LLC’s holdings in RBC Bearings were worth $174,598,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in RBC. Private Advisor Group LLC increased its position in RBC Bearings by 13.4% during the 3rd quarter. Private Advisor Group LLC now owns 1,320 shares of the industrial products company’s stock valued at $395,000 after purchasing an additional 156 shares during the period. US Bancorp DE increased its position in RBC Bearings by 17.4% during the 3rd quarter. US Bancorp DE now owns 6,854 shares of the industrial products company’s stock valued at $2,052,000 after purchasing an additional 1,016 shares during the period. Crestwood Advisors Group LLC purchased a new position in RBC Bearings during the 3rd quarter valued at $215,000. Atria Investments Inc increased its position in RBC Bearings by 1.8% during the 3rd quarter. Atria Investments Inc now owns 7,277 shares of the industrial products company’s stock valued at $2,179,000 after purchasing an additional 127 shares during the period. Finally, TimesSquare Capital Management LLC increased its position in RBC Bearings by 17.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock valued at $27,125,000 after purchasing an additional 13,395 shares during the period.

Wall Street Analyst Weigh In

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

RBC Bearings Stock Up 1.7 %

NYSE:RBC opened at $356.27 on Thursday. The firm’s 50-day moving average price is $331.92 and its 200-day moving average price is $313.38. The company has a market capitalization of $11.19 billion, a PE ratio of 48.94, a P/E/G ratio of 4.42 and a beta of 1.72. 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 $372.83.

Insider Buying and Selling

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $362.25, for a total transaction of $2,898,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,382 shares in the company, valued at approximately $4,123,129.50. This trade represents a 41.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 10,900 shares of company stock worth $3,963,031 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

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.