American Century Companies Inc. Acquires 46,270 Shares of RBC Bearings Incorporated (NYSE:RBC)

American Century Companies Inc. grew its holdings in RBC Bearings Incorporated (NYSE:RBC) by 22.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 252,905 shares of the industrial products company’s stock after acquiring an additional 46,270 shares during the period. American Century Companies Inc.’s holdings in RBC Bearings were worth $75,654,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. R Squared Ltd bought a new stake in RBC Bearings during the fourth quarter worth approximately $30,000. Golden State Wealth Management LLC bought a new position in shares of RBC Bearings during the 4th quarter valued at approximately $38,000. UMB Bank n.a. raised its holdings in RBC Bearings by 84.9% during the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock valued at $51,000 after buying an additional 79 shares during the period. Harbor Investment Advisory LLC purchased a new stake in RBC Bearings during the 4th quarter valued at $82,000. Finally, Quarry LP boosted its stake in RBC Bearings by 1,003.7% during the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after buying an additional 271 shares during the period.

RBC Bearings Price Performance

Shares of RBC opened at $334.85 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The company has a 50 day moving average price of $343.42 and a 200-day moving average price of $318.16. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week high of $372.83. The stock has a market capitalization of $10.52 billion, a PE ratio of 46.00, a PEG ratio of 4.42 and a beta of 1.72.

Insiders Place Their Bets

In related news, CFO Robert M. Sullivan sold 8,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was 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 $4,123,129.50. This represents a 41.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael H. Ambrose sold 400 shares of RBC Bearings stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 6,728 shares in the company, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock worth $3,963,031 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

RBC has been the topic of several recent analyst reports. KeyCorp increased their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Morgan Stanley raised their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Finally, Truist Financial raised their price target on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, RBC Bearings has a consensus rating of “Moderate Buy” and an average target price of $361.20.

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.