Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $3.10 Million Holdings in RBC Bearings Incorporated $RBC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted 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 institutional investor 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 have also added to or reduced their stakes in the stock. Vista Finance LLC increased its holdings in RBC Bearings by 4.1% during the 2nd quarter. Vista Finance LLC now owns 915 shares of the industrial products company’s stock worth $352,000 after purchasing an additional 36 shares in the last quarter. Sheets Smith Wealth Management boosted its position in shares of RBC Bearings by 0.9% during the second quarter. Sheets Smith Wealth Management now owns 5,064 shares of the industrial products company’s stock worth $1,949,000 after buying an additional 44 shares during the period. Harbor Investment Advisory LLC grew its holdings in shares of RBC Bearings by 19.8% during the second 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 in the last quarter. Huntleigh Advisors Inc. raised its position in RBC Bearings by 0.9% in the 2nd quarter. Huntleigh Advisors Inc. now owns 6,633 shares of the industrial products company’s stock valued at $2,552,000 after buying an additional 56 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in RBC Bearings by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 1,391 shares of the industrial products company’s stock valued at $535,000 after buying an additional 58 shares during the last quarter.

Insider Activity at RBC Bearings

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

Wall Street Analyst Weigh In

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

RBC Bearings Stock Performance

Shares of RBC stock opened at $430.33 on Thursday. The company has a fifty day moving average price of $398.74 and a two-hundred day moving average price of $387.53. RBC Bearings Incorporated has a one year low of $290.56 and a one year high of $448.74. The stock has a market cap of $13.60 billion, a P/E ratio of 54.20, a P/E/G ratio of 3.16 and a beta of 1.73. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.33 and a quick ratio of 1.33.

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

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.