Oregon Public Employees Retirement Fund Increases Stake in RBC Bearings Incorporated (NYSE:RBC)

Oregon Public Employees Retirement Fund grew its stake in RBC Bearings Incorporated (NYSE:RBC) by 7.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,385 shares of the industrial products company’s stock after buying an additional 454 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in RBC Bearings were worth $1,910,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd purchased a new position in shares of RBC Bearings in the 4th quarter valued at about $30,000. Golden State Wealth Management LLC purchased a new position in shares of RBC Bearings in the 4th quarter valued at about $38,000. UMB Bank n.a. boosted its stake in shares of RBC Bearings by 84.9% in the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock valued at $51,000 after buying an additional 79 shares during the period. Harbor Investment Advisory LLC purchased a new position in shares of RBC Bearings in the 4th quarter valued at about $82,000. Finally, Quarry LP boosted its stake in shares of RBC Bearings by 1,003.7% in the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company’s stock valued at $89,000 after buying an additional 271 shares during the period.

RBC Bearings Price Performance

Shares of NYSE RBC opened at $359.08 on Friday. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83. The stock has a 50 day moving average of $330.00 and a two-hundred day moving average of $312.02. The stock has a market cap of $11.28 billion, a P/E ratio of 49.32, a P/E/G ratio of 4.42 and a beta of 1.58.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, 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 value of $2,898,000.00. Following the completion of the sale, the chief financial officer now owns 11,382 shares in the company, valued at approximately $4,123,129.50. The trade was a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $145,156.00. Following the completion of the sale, the director now owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

About RBC Bearings

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.