Teachers Retirement System of The State of Kentucky Purchases 5,440 Shares of RBC Bearings Incorporated $RBC

Teachers Retirement System of The State of Kentucky lifted its holdings in RBC Bearings Incorporated (NYSE:RBC) by 55.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 15,186 shares of the industrial products company’s stock after buying an additional 5,440 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in RBC Bearings were worth $8,248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new stake in RBC Bearings during the first quarter worth approximately $26,000. SBI Securities Co. Ltd. boosted its holdings in shares of RBC Bearings by 106.5% during 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 in the last quarter. Larson Financial Group LLC grew its position in shares of RBC Bearings by 148.5% during 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 period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of RBC Bearings in the 4th quarter valued at $35,000. Finally, EverSource Wealth Advisors LLC boosted its stake in RBC Bearings by 123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 53 shares in the last quarter.

Insider Activity at RBC Bearings

In other news, VP John J. Feeney sold 225 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total value of $148,036.50. Following the completion of the sale, the vice president owned 2,378 shares in the company, valued at $1,564,581.32. This represents a 8.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edward Stewart sold 600 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total transaction of $355,698.00. Following the completion of the sale, the director owned 21,337 shares of the company’s stock, valued at approximately $12,649,213.71. This represents a 2.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,425 shares of company stock valued at $885,400. 1.90% of the stock is owned by insiders.

RBC Bearings Stock Performance

Shares of RBC opened at $584.38 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18. The stock has a 50 day moving average price of $601.44 and a two-hundred day moving average price of $559.81. The firm has a market capitalization of $18.49 billion, a P/E ratio of 64.29, a P/E/G ratio of 3.41 and a beta of 1.40. RBC Bearings Incorporated has a 52 week low of $364.50 and a 52 week high of $667.69.

RBC Bearings (NYSE:RBC) last posted its earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. The company had revenue of $518.00 million for the quarter, compared to analyst estimates of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the company earned $2.83 earnings per share. Equities analysts forecast that RBC Bearings Incorporated will post 13.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

RBC has been the subject of several research analyst reports. Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Weiss Ratings lowered RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Morgan Stanley upped their target price on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Finally, Truist Financial reiterated a “buy” rating and issued a $615.00 target price (up from $599.00) on shares of RBC Bearings in a report on Tuesday, May 19th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $584.00.

RBC Bearings 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.