RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its position in RBC Bearings Incorporated (NYSE:RBC) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,735 shares of the industrial products company’s stock after selling 250 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in RBC Bearings were worth $2,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of RBC Bearings by 1.2% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,941,467 shares of the industrial products company’s stock valued at $523,769,000 after purchasing an additional 22,470 shares during the period. State Street Corp boosted its position in RBC Bearings by 2.4% in the third quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock valued at $253,028,000 after buying an additional 19,962 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in RBC Bearings by 1.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company’s stock worth $221,793,000 after buying an additional 12,375 shares during the period. Geneva Capital Management LLC raised its position in RBC Bearings by 1.4% during the 3rd quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock worth $176,829,000 after buying an additional 8,012 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in RBC Bearings by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company’s stock valued at $144,490,000 after acquiring an additional 5,040 shares during the period.

RBC Bearings Trading Down 0.9 %

Shares of RBC Bearings stock opened at $327.58 on Monday. The firm has a 50-day simple moving average of $309.56 and a two-hundred day simple moving average of $294.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. RBC Bearings Incorporated has a fifty-two week low of $240.36 and a fifty-two week high of $346.77. The company has a market cap of $10.29 billion, a P/E ratio of 47.82, a price-to-earnings-growth ratio of 4.50 and a beta of 1.55.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The business had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same period in the previous year, the company posted $2.07 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities analysts predict that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Michael J. Hartnett sold 503 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total transaction of $145,367.00. Following the completion of the sale, the chief executive officer now owns 322,588 shares of the company’s stock, valued at $93,227,932. The trade was a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RBC shares. Truist Financial increased their price objective on shares of RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. KeyCorp upgraded RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective for the company in a research note on Friday, November 22nd. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average price target of $324.67.

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.