Dimensional Fund Advisors LP Purchases 6,667 Shares of RBC Bearings Incorporated (NYSE:RBC)

Dimensional Fund Advisors LP grew its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.9% in the fourth quarter, Holdings Channel reports. The firm owned 358,438 shares of the industrial products company’s stock after purchasing an additional 6,667 shares during the period. Dimensional Fund Advisors LP’s holdings in RBC Bearings were worth $107,221,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in RBC Bearings during the fourth quarter worth about $30,000. Golden State Wealth Management LLC bought a new stake in shares of RBC Bearings during the 4th quarter valued at about $38,000. UMB Bank n.a. grew its holdings in shares of RBC Bearings by 84.9% during 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 in the last quarter. Harbor Investment Advisory LLC bought a new position in shares of RBC Bearings in the fourth quarter worth approximately $82,000. Finally, Venturi Wealth Management LLC raised its stake 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 purchasing an additional 457 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently commented on RBC shares. Truist Financial decreased their price target on shares of RBC Bearings from $410.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Morgan Stanley lifted 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. Finally, KeyCorp increased their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average price target of $354.20.

Insiders Place Their Bets

In related news, Director Michael H. Ambrose sold 400 shares of RBC Bearings 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 transaction, the director now directly owns 6,728 shares of the company’s stock, valued at $2,441,523.92. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Hartnett sold 2,500 shares of the stock in a transaction 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 $117,776,379.60. The trade was a 0.77 % 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 ninety days. Company insiders own 2.60% of the company’s stock.

RBC Bearings Stock Down 0.9 %

RBC opened at $327.26 on Monday. The company has a market cap of $10.28 billion, a P/E ratio of 44.95, a P/E/G ratio of 4.42 and a beta of 1.60. RBC Bearings Incorporated has a 12 month low of $243.50 and a 12 month high of $372.83. The business’s 50-day moving average price is $335.77 and its 200-day moving average price is $323.96. 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 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.