Strs Ohio Sells 312 Shares of RBC Bearings Incorporated $RBC

Strs Ohio decreased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 6.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,759 shares of the industrial products company’s stock after selling 312 shares during the quarter. Strs Ohio’s holdings in RBC Bearings were worth $1,831,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in shares of RBC Bearings in the 1st quarter valued at $26,000. Hantz Financial Services Inc. grew its position in RBC Bearings by 1,257.1% in the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 88 shares during the last quarter. AlphaQuest LLC bought a new position in RBC Bearings in the second quarter valued at about $83,000. SVB Wealth LLC bought a new stake in shares of RBC Bearings during the first quarter worth $111,000. Finally, IFP Advisors Inc grew its position in RBC Bearings by 51.6% during the 2nd quarter. IFP Advisors Inc now owns 291 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 99 shares during the last quarter.

Wall Street Analyst Weigh In

RBC has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft set a $503.00 target price on shares of RBC Bearings and gave the stock a “buy” rating in a report on Wednesday, October 8th. Weiss Ratings reissued a “buy (b)” rating on shares of RBC Bearings in a report on Wednesday, October 8th. Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Truist Financial reissued a “buy” rating and issued a $471.00 price objective (up previously from $455.00) on shares of RBC Bearings in a research note on Monday. Finally, KeyCorp boosted their price objective on shares of RBC Bearings from $405.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $431.67.

RBC Bearings Trading Down 0.4%

NYSE:RBC opened at $426.89 on Wednesday. The firm’s fifty day moving average is $388.48 and its 200-day moving average is $379.72. 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 $283.47 and a 52 week high of $432.89. The firm has a market cap of $13.47 billion, a P/E ratio of 53.76, a P/E/G ratio of 3.16 and a beta of 1.71.

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

Insider Buying and Selling

In related news, VP John J. Feeney sold 105 shares of the 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 transaction, the vice president directly owned 2,666 shares of the company’s stock, valued at $1,020,624.78. This represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Daniel A. Bergeron sold 48,743 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $402.75, for a total transaction of $19,631,243.25. Following the transaction, the chief operating officer directly owned 111,134 shares in the company, valued at $44,759,218.50. This trade represents a 30.49% decrease in their position. The SEC filing for this sale provides additional information. 1.90% of the stock is currently owned by corporate insiders.

RBC Bearings Company 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.