Public Employees Retirement Association of Colorado Sells 12,900 Shares of RBC Bearings Incorporated $RBC

Public Employees Retirement Association of Colorado decreased its position in RBC Bearings Incorporated (NYSE:RBC) by 12.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,057 shares of the industrial products company’s stock after selling 12,900 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.28% of RBC Bearings worth $39,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in RBC Bearings in the 1st quarter worth approximately $26,000. SBI Securities Co. Ltd. lifted its position in RBC Bearings by 106.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after buying an additional 33 shares during the last quarter. Larson Financial Group LLC lifted its position in RBC Bearings by 148.5% in the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after buying an additional 49 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in RBC Bearings in the 4th quarter worth approximately $35,000. Finally, EverSource Wealth Advisors LLC lifted its position in RBC Bearings by 123.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after buying an additional 53 shares during the last quarter.

RBC Bearings Price Performance

Shares of RBC Bearings stock opened at $603.22 on Monday. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The company has a market cap of $19.09 billion, a PE ratio of 66.36, a P/E/G ratio of 3.49 and a beta of 1.42. The business has a 50 day moving average of $586.12 and a 200 day moving average of $534.33. RBC Bearings Incorporated has a 52 week low of $363.05 and a 52 week high of $632.00.

RBC Bearings (NYSE:RBC) last announced its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. The company had revenue of $518.00 million during the quarter, compared to the consensus estimate of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.83 earnings per share. As a group, equities research analysts forecast that RBC Bearings Incorporated will post 13.58 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on RBC. KeyCorp boosted their target price on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Weiss Ratings upgraded RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Morgan Stanley boosted their price objective on RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Wall Street Zen upgraded RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Truist Financial reiterated a “buy” rating and issued a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $584.00.

Insider Activity at RBC Bearings

In related news, Director Edward Stewart sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total transaction of $355,698.00. Following the completion of the transaction, the director owned 21,337 shares in the company, valued at $12,649,213.71. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

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.