Securian Asset Management Inc. Has $706,000 Position in RBC Bearings Incorporated (NYSE:RBC)

Securian Asset Management Inc. lifted its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 4.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,361 shares of the industrial products company’s stock after acquiring an additional 101 shares during the period. Securian Asset Management Inc.’s holdings in RBC Bearings were worth $706,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RBC. State Street Corp raised its holdings in RBC Bearings by 2.4% during the third 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 during the last quarter. Geode Capital Management LLC raised its holdings in 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 worth $144,490,000 after buying an additional 5,040 shares during the last quarter. Port Capital LLC raised its holdings 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 buying an additional 3,525 shares during the last quarter. Maren Capital LLC raised its holdings 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 worth $113,499,000 after buying an additional 13,812 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its holdings in 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 worth $109,290,000 after buying an additional 40,724 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

RBC Bearings Stock Performance

NYSE RBC opened at $336.36 on Monday. RBC Bearings Incorporated has a 1 year low of $241.43 and a 1 year high of $372.83. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 46.20, a PEG ratio of 4.42 and a beta of 1.72. The company has a fifty day moving average price of $338.81 and a 200-day moving average price of $316.29.

Insider Activity at RBC Bearings

In related news, CEO Michael J. Hartnett sold 2,500 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the completion of the transaction, the chief executive officer now owns 320,088 shares in the company, valued at approximately $117,776,379.60. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the 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 transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is owned by company insiders.

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.