Segall Bryant & Hamill LLC Purchases 49,937 Shares of RBC Bearings Incorporated (NYSE:RBC)

Segall Bryant & Hamill LLC raised its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 168.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 79,652 shares of the industrial products company’s stock after purchasing an additional 49,937 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in RBC Bearings were worth $23,827,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RBC. Jane Street Group LLC boosted its holdings in shares of RBC Bearings by 18.5% during the third quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock worth $4,951,000 after purchasing an additional 2,584 shares during the period. Holocene Advisors LP raised its position in RBC Bearings by 69.4% during the 3rd quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company’s stock valued at $3,711,000 after purchasing an additional 5,078 shares during the last quarter. State Street Corp lifted its holdings in RBC Bearings by 2.4% in the 3rd 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 period. Citigroup Inc. grew its position in shares of RBC Bearings by 7.0% in the 3rd quarter. Citigroup Inc. now owns 27,157 shares of the industrial products company’s stock worth $8,130,000 after buying an additional 1,770 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of RBC Bearings by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company’s stock valued at $59,581,000 after buying an additional 1,103 shares during the period.

RBC Bearings Stock Performance

Shares of RBC stock opened at $334.85 on Tuesday. The company’s fifty day moving average price is $343.42 and its 200-day moving average price is $318.16. The stock has a market cap of $10.52 billion, a PE ratio of 46.00, a price-to-earnings-growth 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. RBC Bearings Incorporated has a 12 month low of $241.43 and a 12 month high of $372.83.

Analysts Set New Price Targets

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

Insider Activity at RBC Bearings

In other news, Director Michael H. Ambrose sold 400 shares of RBC Bearings stock in a transaction that occurred on Wednesday, February 5th. The shares were 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. This trade represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert M. Sullivan sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was 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 directly owns 11,382 shares in the company, valued at approximately $4,123,129.50. This represents a 41.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock valued at $3,963,031 in the last three months. Company insiders own 2.60% of the company’s stock.

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.