B. Metzler seel. Sohn & Co. AG Reduces Position in RBC Bearings Incorporated (NYSE:RBC)

B. Metzler seel. Sohn & Co. AG trimmed its holdings in RBC Bearings Incorporated (NYSE:RBC) by 12.6% during the fourth quarter, HoldingsChannel reports. The firm owned 9,149 shares of the industrial products company’s stock after selling 1,316 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in RBC Bearings were worth $2,737,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd acquired a new position in RBC Bearings during the fourth quarter worth $30,000. Golden State Wealth Management LLC purchased a new position in shares of RBC Bearings during the 4th quarter worth $38,000. UMB Bank n.a. boosted its position in shares of 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 acquiring an additional 79 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of RBC Bearings in the fourth quarter valued at about $82,000. Finally, Quarry LP increased its position 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 purchasing an additional 271 shares during the last quarter.

Insider Buying and Selling at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of RBC Bearings stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value of $145,156.00. Following the transaction, the director now directly owns 6,728 shares in the company, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 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. Insiders sold a total of 10,900 shares of company stock valued at $3,963,031 in the last ninety days. Insiders own 2.60% of the company’s stock.

RBC Bearings Price Performance

RBC stock opened at $334.03 on Wednesday. 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 company has a market capitalization of $10.49 billion, a P/E ratio of 45.88, a PEG ratio of 4.42 and a beta of 1.72. The business has a 50 day simple moving average of $345.66 and a 200-day simple moving average of $320.08. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RBC shares. Truist Financial boosted their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a report on Monday, February 3rd. KeyCorp upped their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Morgan Stanley increased their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, RBC Bearings currently has an average rating of “Moderate Buy” and an average target price of $361.20.

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.