First Commonwealth Financial Corp PA Lowers Holdings in RBC Bearings Incorporated (NYSE:RBC)

First Commonwealth Financial Corp PA lowered its position in RBC Bearings Incorporated (NYSE:RBC) by 26.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,134 shares of the industrial products company’s stock after selling 416 shares during the period. First Commonwealth Financial Corp PA’s holdings in RBC Bearings were worth $339,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RBC. R Squared Ltd acquired a new position in RBC Bearings during the fourth quarter worth $30,000. Golden State Wealth Management LLC purchased a new position in RBC Bearings during the fourth quarter worth about $38,000. UMB Bank n.a. lifted its holdings 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 valued at $51,000 after acquiring an additional 79 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of RBC Bearings in the 4th quarter valued at $82,000. Finally, Venturi Wealth Management LLC lifted 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 valued at $142,000 after buying an additional 457 shares during the last quarter.

Insider Buying and Selling

In other news, Director Michael H. Ambrose sold 400 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert M. Sullivan sold 8,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 11,382 shares in the company, valued at approximately $4,123,129.50. This represents a 41.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock worth $3,963,031 in the last 90 days. Company insiders own 2.60% of the company’s stock.

RBC Bearings Price Performance

RBC stock opened at $321.48 on Friday. The business has a 50 day simple moving average of $340.76 and a 200-day simple moving average of $322.08. The company has a market capitalization of $10.10 billion, a P/E ratio of 44.16, a PEG ratio of 4.42 and a beta of 1.60. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month 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.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley upped their price target on 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 decreased their price target on shares of RBC Bearings from $410.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday. Finally, KeyCorp upped 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $354.20.

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.