Alliancebernstein L.P. Has $11.74 Million Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Alliancebernstein L.P. grew its holdings in RBC Bearings Incorporated (NYSE:RBC) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,249 shares of the industrial products company’s stock after buying an additional 1,143 shares during the quarter. Alliancebernstein L.P. owned approximately 0.12% of RBC Bearings worth $11,741,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RBC. R Squared Ltd acquired a new stake in RBC Bearings in the fourth quarter worth about $30,000. Golden State Wealth Management LLC acquired a new stake in RBC Bearings in the fourth quarter worth about $38,000. UMB Bank n.a. increased its position in RBC Bearings by 84.9% in the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 79 shares during the period. Harbor Investment Advisory LLC acquired a new stake in RBC Bearings in the fourth quarter worth about $82,000. Finally, Venturi Wealth Management LLC increased its position in RBC Bearings by 2,405.3% in the fourth quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 457 shares during the period.

Insider Activity at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of the sale, the director now directly owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was 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. The trade was a 41.28 % 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 ninety days. Company insiders own 2.60% of the company’s stock.

RBC Bearings Stock Performance

Shares of NYSE:RBC opened at $333.01 on Thursday. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of 45.74, a P/E/G ratio of 4.42 and a beta of 1.60. The firm’s 50 day simple moving average is $345.28 and its 200 day simple moving average is $321.07. 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.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Truist Financial lifted their price objective on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. KeyCorp lifted their price objective on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley boosted their target price 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 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.com, the stock currently has a consensus 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.