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

Securian Asset Management Inc. grew its position in RBC Bearings Incorporated (NYSE:RBC) by 4.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,361 shares of the industrial products company’s stock after buying an additional 101 shares during the quarter. Securian Asset Management Inc.’s holdings in RBC Bearings were worth $706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RBC. R Squared Ltd acquired a new position in shares of RBC Bearings in the 4th quarter valued at approximately $30,000. Golden State Wealth Management LLC bought a new stake in shares of RBC Bearings during the 4th quarter valued at approximately $38,000. UMB Bank n.a. grew its holdings 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 purchasing an additional 79 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of RBC Bearings during the 4th quarter valued at approximately $82,000. Finally, Quarry LP grew its holdings in shares of RBC Bearings by 1,003.7% during the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 271 shares during the last quarter.

RBC Bearings Trading Up 1.5 %

RBC opened at $336.36 on Monday. The company’s 50 day moving average price is $338.81 and its two-hundred day moving average price is $316.29. 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 fifty-two week low of $241.43 and a fifty-two week high of $372.83. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 46.20, a PEG ratio of 4.42 and a beta of 1.72.

Insider Activity

In other news, CFO Robert M. Sullivan sold 8,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $362.25, for a total value of $2,898,000.00. Following the sale, the chief financial officer now directly owns 11,382 shares of the company’s stock, valued at approximately $4,123,129.50. This represents a 41.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Hartnett sold 2,500 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Truist Financial lifted their price target 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 lifted their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Finally, William Blair reissued an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently 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.