RBC Bearings Incorporated $RBC Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its position in RBC Bearings Incorporated (NYSE:RBC) by 15.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,303 shares of the industrial products company’s stock after selling 7,659 shares during the quarter. Thrivent Financial for Lutherans owned 0.14% of RBC Bearings worth $16,901,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Brown Advisory Inc. grew its holdings in RBC Bearings by 4.7% during the 2nd quarter. Brown Advisory Inc. now owns 685 shares of the industrial products company’s stock valued at $264,000 after purchasing an additional 31 shares in the last quarter. Covestor Ltd grew its stake in shares of RBC Bearings by 21.5% during the third quarter. Covestor Ltd now owns 181 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 32 shares in the last quarter. CWM LLC increased its position in shares of RBC Bearings by 12.9% during the third quarter. CWM LLC now owns 289 shares of the industrial products company’s stock worth $113,000 after acquiring an additional 33 shares during the last quarter. Vista Finance LLC lifted its stake in shares of RBC Bearings by 4.1% in the second quarter. Vista Finance LLC now owns 915 shares of the industrial products company’s stock worth $352,000 after acquiring an additional 36 shares in the last quarter. Finally, Wedmont Private Capital boosted its holdings in RBC Bearings by 6.2% in the third quarter. Wedmont Private Capital now owns 620 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 36 shares during the last quarter.

Insider Transactions at RBC Bearings

In other RBC Bearings news, Director Steven H. Kaplan sold 700 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total value of $310,100.00. Following the sale, the director directly owned 1,999 shares in the company, valued at approximately $885,557. This trade represents a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. KeyCorp upped their target price on RBC Bearings from $475.00 to $535.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price target on shares of RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and upped their target price for the company from $390.00 to $500.00 in a research note on Thursday, November 6th. Finally, Truist Financial set a $542.00 price target on shares of RBC Bearings in a research report on Friday, January 9th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $489.17.

RBC Bearings Stock Up 1.6%

Shares of RBC Bearings stock opened at $515.00 on Wednesday. The stock has a market capitalization of $16.28 billion, a price-to-earnings ratio of 62.88, a PEG ratio of 3.38 and a beta of 1.52. RBC Bearings Incorporated has a twelve month low of $297.28 and a twelve month high of $517.92. The company has a current ratio of 3.18, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The business’s 50 day simple moving average is $469.99 and its 200-day simple moving average is $423.39.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.