MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $59.93 Million Holdings in RBC Bearings Incorporated (NYSE:RBC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 5.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 200,327 shares of the industrial products company’s stock after acquiring an additional 10,744 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.64% of RBC Bearings worth $59,926,000 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 the business. Barclays PLC grew its position in RBC Bearings by 162.2% in the third quarter. Barclays PLC now owns 21,030 shares of the industrial products company’s stock valued at $6,296,000 after purchasing an additional 13,010 shares in the last quarter. PFW Advisors LLC bought a new position in shares of RBC Bearings in the 4th quarter valued at about $374,000. Oak Thistle LLC grew its holdings in shares of RBC Bearings by 21.9% in the 4th quarter. Oak Thistle LLC now owns 3,003 shares of the industrial products company’s stock valued at $898,000 after acquiring an additional 540 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of RBC Bearings by 33.6% in the fourth quarter. Park Avenue Securities LLC now owns 1,755 shares of the industrial products company’s stock valued at $525,000 after acquiring an additional 441 shares during the last quarter. Finally, Argent Capital Management LLC raised its holdings in RBC Bearings by 33.0% during the fourth quarter. Argent Capital Management LLC now owns 4,521 shares of the industrial products company’s stock worth $1,352,000 after acquiring an additional 1,123 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley increased their price objective on RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. KeyCorp increased their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Truist Financial lowered their price objective on shares of RBC Bearings from $410.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $354.20.

RBC Bearings Trading Up 4.4%

RBC stock opened at $364.74 on Tuesday. RBC Bearings Incorporated has a one year low of $260.53 and a one year high of $372.83. The stock has a market cap of $11.46 billion, a price-to-earnings ratio of 50.10, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. The company has a fifty day moving average price of $331.84 and a two-hundred day moving average price of $328.16. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

Insider Buying and Selling at RBC Bearings

In other news, CFO Robert M. Sullivan sold 8,000 shares of the company’s 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 transaction, the chief financial officer now owns 11,382 shares of the company’s stock, valued at approximately $4,123,129.50. This represents a 41.28% 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. Insiders own 2.60% of the company’s stock.

RBC Bearings 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.