DF Dent & Co. Inc. Invests $23.96 Million in RBC Bearings Incorporated (NYSE:RBC)

DF Dent & Co. Inc. acquired a new stake in RBC Bearings Incorporated (NYSE:RBC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 80,103 shares of the industrial products company’s stock, valued at approximately $23,962,000. DF Dent & Co. Inc. owned about 0.26% of RBC Bearings as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Torray Investment Partners LLC increased its stake in shares of RBC Bearings by 0.3% in the fourth quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock valued at $2,533,000 after purchasing an additional 28 shares during the period. Curated Wealth Partners LLC increased its position in RBC Bearings by 1.6% in the 4th quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock valued at $595,000 after acquiring an additional 32 shares during the period. Argonautica Private Wealth Management Inc. raised its stake in RBC Bearings by 3.4% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company’s stock valued at $418,000 after acquiring an additional 46 shares in the last quarter. CIBC Asset Management Inc boosted its position in RBC Bearings by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock worth $273,000 after acquiring an additional 47 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in RBC Bearings by 6.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 762 shares of the industrial products company’s stock worth $228,000 after acquiring an additional 47 shares during the period.

RBC Bearings Price Performance

Shares of RBC Bearings stock opened at $336.87 on Thursday. RBC Bearings Incorporated has a 52 week low of $241.43 and a 52 week high of $372.83. 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 stock has a market cap of $10.58 billion, a PE ratio of 46.27, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The company’s 50-day moving average price is $345.94 and its two-hundred day moving average price is $320.20.

Insider Transactions at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total value of $919,875.00. Following the transaction, the chief executive officer now owns 320,088 shares in the company, valued at approximately $117,776,379.60. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the 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 sale, the director now owns 6,728 shares of the company’s stock, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,900 shares of company stock valued at $3,963,031 in the last quarter. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley lifted their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. KeyCorp raised 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. Finally, Truist Financial upped their price target on shares of 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 MarketBeat.com, RBC Bearings presently has an average rating of “Moderate Buy” and a consensus target price of $361.20.

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.