5,640 Shares in RBC Bearings Incorporated $RBC Bought by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp bought a new stake in shares of RBC Bearings Incorporated (NYSE:RBC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,640 shares of the industrial products company’s stock, valued at approximately $2,201,000.

Several other large investors also recently made changes to their positions in RBC. Jones Financial Companies Lllp lifted its holdings in RBC Bearings by 2.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock worth $383,000 after purchasing an additional 26 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of RBC Bearings by 4.5% in the third quarter. Principal Financial Group Inc. now owns 111,443 shares of the industrial products company’s stock valued at $43,495,000 after purchasing an additional 4,776 shares during the period. Lisanti Capital Growth LLC lifted its stake in shares of RBC Bearings by 1.7% in the third quarter. Lisanti Capital Growth LLC now owns 14,336 shares of the industrial products company’s stock worth $5,595,000 after buying an additional 241 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of RBC Bearings by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 8,849 shares of the industrial products company’s stock worth $3,454,000 after buying an additional 131 shares during the period. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of RBC Bearings by 4.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 37,129 shares of the industrial products company’s stock worth $14,491,000 after buying an additional 1,562 shares during the period.

RBC Bearings Stock Performance

Shares of NYSE RBC opened at $515.00 on Wednesday. The firm 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 one year low of $297.28 and a one year high of $517.92. The business has a fifty day simple moving average of $469.99 and a 200 day simple moving average of $423.39. The company has a current ratio of 3.18, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other RBC Bearings news, Director Steven H. Kaplan sold 700 shares of RBC Bearings stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total transaction of $310,100.00. Following the sale, the director directly owned 1,999 shares of the company’s stock, valued at approximately $885,557. The trade was a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by corporate insiders.

RBC Bearings 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.