Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 578 Shares of RBC Bearings Incorporated $RBC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 7.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,053 shares of the industrial products company’s stock after acquiring an additional 578 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in RBC Bearings were worth $3,099,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RBC. Vista Finance LLC increased its stake in shares of RBC Bearings by 4.1% during the second quarter. Vista Finance LLC now owns 915 shares of the industrial products company’s stock worth $352,000 after purchasing an additional 36 shares during the period. Sheets Smith Wealth Management grew its holdings in RBC Bearings by 0.9% in the 2nd quarter. Sheets Smith Wealth Management now owns 5,064 shares of the industrial products company’s stock valued at $1,949,000 after buying an additional 44 shares in the last quarter. Harbor Investment Advisory LLC increased its position in RBC Bearings by 19.8% during the 2nd quarter. Harbor Investment Advisory LLC now owns 327 shares of the industrial products company’s stock worth $126,000 after buying an additional 54 shares during the period. Huntleigh Advisors Inc. lifted its holdings in shares of RBC Bearings by 0.9% during the second quarter. Huntleigh Advisors Inc. now owns 6,633 shares of the industrial products company’s stock worth $2,552,000 after buying an additional 56 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of RBC Bearings by 4.4% in the second quarter. ProShare Advisors LLC now owns 1,391 shares of the industrial products company’s stock valued at $535,000 after acquiring an additional 58 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently commented on RBC shares. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Truist Financial reaffirmed a “buy” rating and set a $471.00 target price (up from $455.00) on shares of RBC Bearings in a report on Monday, November 3rd. Bank of America upgraded RBC Bearings from a “neutral” rating to a “buy” rating and boosted their price target for the company from $390.00 to $500.00 in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $503.00 price target on RBC Bearings and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, RBC Bearings has a consensus rating of “Moderate Buy” and an average price target of $459.17.

Insider Buying and Selling

In other RBC Bearings news, VP John J. Feeney sold 105 shares of the business’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $382.83, for a total transaction of $40,197.15. Following the sale, the vice president owned 2,666 shares of the company’s stock, valued at approximately $1,020,624.78. The trade was a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven H. Kaplan sold 700 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total value of $310,100.00. Following the completion of the transaction, the director owned 1,999 shares of the company’s stock, valued at $885,557. The trade was a 25.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is owned by corporate insiders.

RBC Bearings Price Performance

RBC Bearings stock opened at $430.33 on Thursday. The stock has a fifty day moving average of $398.74 and a 200-day moving average of $387.53. The stock has a market capitalization of $13.60 billion, a P/E ratio of 54.20, a price-to-earnings-growth ratio of 3.16 and a beta of 1.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33. RBC Bearings Incorporated has a 52 week low of $290.56 and a 52 week high of $448.74.

RBC Bearings (NYSE:RBC) last issued its earnings results on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. The firm had revenue of $156.21 million during the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%. On average, sell-side analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

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.