New Mexico Educational Retirement Board Boosts Stake in RBC Bearings Incorporated (NYSE:RBC)

New Mexico Educational Retirement Board lifted its holdings in RBC Bearings Incorporated (NYSE:RBC) by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,400 shares of the industrial products company’s stock after buying an additional 600 shares during the period. New Mexico Educational Retirement Board’s holdings in RBC Bearings were worth $1,914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. Curated Wealth Partners LLC raised its stake in RBC Bearings by 1.6% during the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock worth $595,000 after purchasing an additional 32 shares during the period. Marco Investment Management LLC raised its stake in RBC Bearings by 6.6% during the third quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 50 shares during the period. Raymond James Trust N.A. raised its stake in RBC Bearings by 2.6% during the third quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company’s stock worth $633,000 after purchasing an additional 53 shares during the period. SkyView Investment Advisors LLC increased its position in shares of RBC Bearings by 1.6% during the third quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company’s stock valued at $1,084,000 after acquiring an additional 58 shares during the last quarter. Finally, Mather Group LLC. increased its position in shares of RBC Bearings by 16.9% during the fourth quarter. Mather Group LLC. now owns 499 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 72 shares during the last quarter.

RBC Bearings Trading Up 0.3 %

Shares of RBC stock opened at $363.80 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The stock has a market capitalization of $11.43 billion, a P/E ratio of 49.97, a price-to-earnings-growth ratio of 4.90 and a beta of 1.58. The company has a 50 day moving average price of $322.33 and a 200 day moving average price of $306.54. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week high of $372.51.

Insiders Place Their Bets

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of the transaction, the director now owns 6,728 shares in the company, valued at $2,441,523.92. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the business’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 transaction of $2,898,000.00. Following the transaction, the chief financial officer now owns 11,382 shares of the company’s stock, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,900 shares of company stock worth $3,963,031 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

RBC has been the subject of a number of recent analyst reports. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. KeyCorp lifted their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price target for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. Morgan Stanley lifted their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Truist Financial lifted their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.20.

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.