Maren Capital LLC Purchases 24,690 Shares of RBC Bearings Incorporated (NYSE:RBC)

Maren Capital LLC grew its position in RBC Bearings Incorporated (NYSE:RBC) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 403,803 shares of the industrial products company’s stock after purchasing an additional 24,690 shares during the quarter. RBC Bearings makes up 9.2% of Maren Capital LLC’s investment portfolio, making the stock its 3rd largest position. Maren Capital LLC owned approximately 1.29% of RBC Bearings worth $120,794,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of RBC Bearings during the fourth quarter worth about $88,184,000. Raymond James Financial Inc. purchased a new position in shares of RBC Bearings during the fourth quarter worth approximately $71,324,000. Vanguard Group Inc. boosted its stake in RBC Bearings by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company’s stock worth $879,149,000 after purchasing an additional 229,466 shares during the period. Blair William & Co. IL increased its stake in RBC Bearings by 89.4% in the fourth quarter. Blair William & Co. IL now owns 185,600 shares of the industrial products company’s stock valued at $55,520,000 after purchasing an additional 87,624 shares during the period. Finally, DF Dent & Co. Inc. acquired a new stake in shares of RBC Bearings during the fourth quarter worth about $23,962,000.

Wall Street Analysts Forecast Growth

RBC has been the subject of several recent analyst reports. Morgan Stanley raised their target price 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. Truist Financial upped their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, 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 research report on Monday, February 3rd. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $361.20.

RBC Bearings Trading Down 2.6 %

NYSE:RBC opened at $308.85 on Monday. The business’s 50-day moving average is $345.86 and its two-hundred day moving average is $320.74. The firm has a market capitalization of $9.70 billion, a PE ratio of 42.42, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60. RBC Bearings Incorporated has a 12 month low of $241.43 and a 12 month high of $372.83. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

Insider Activity

In related news, CEO Michael J. Hartnett sold 2,500 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was 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 legal filing with the SEC, which can be accessed through this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the firm’s stock in a transaction that occurred 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 owns 11,382 shares of the company’s stock, valued at approximately $4,123,129.50. This trade represents a 41.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,900 shares of company stock worth $3,963,031 over the last 90 days. 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.