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, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,905 shares of the industrial products company’s stock after purchasing an additional 46,270 shares during the period. American Century Companies Inc. owned about 0.81% of RBC Bearings worth $75,654,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. increased its holdings in RBC Bearings by 4.9% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 28,911 shares of the industrial products company’s stock worth $8,648,000 after buying an additional 1,341 shares in the last quarter. Whittier Trust Co. grew its stake in shares of RBC Bearings by 3.6% in the fourth quarter. Whittier Trust Co. now owns 56,924 shares of the industrial products company’s stock worth $17,027,000 after acquiring an additional 1,955 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of RBC Bearings by 7.7% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,899 shares of the industrial products company’s stock valued at $2,064,000 after purchasing an additional 494 shares during the last quarter. Xponance Inc. lifted its position in RBC Bearings by 10.9% during the fourth quarter. Xponance Inc. now owns 3,440 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 338 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in RBC Bearings by 7.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,350 shares of the industrial products company’s stock worth $2,199,000 after purchasing an additional 524 shares during the last quarter.

RBC Bearings Price Performance

NYSE RBC opened at $334.85 on Tuesday. 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. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 46.00, a PEG ratio of 4.42 and a beta of 1.72. The company’s 50 day moving average is $343.42 and its two-hundred day moving average is $318.16.

Insider Activity

In other news, Director Michael H. Ambrose sold 400 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the completion of the transaction, the director now owns 6,728 shares of the company’s stock, valued at $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 320,088 shares of the company’s stock, valued at approximately $117,776,379.60. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,900 shares of company stock worth $3,963,031 in the last three months. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on RBC. Morgan Stanley increased their price target on RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Truist Financial raised their target price on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Finally, KeyCorp raised 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. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.