RBC Bearings Incorporated (NYSE:RBC) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama grew its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,521 shares of the industrial products company’s stock after purchasing an additional 3,276 shares during the period. Retirement Systems of Alabama’s holdings in RBC Bearings were worth $12,421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RBC. UMB Bank n.a. lifted its stake in RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after buying an additional 75 shares in the last quarter. R Squared Ltd purchased a new stake in shares of RBC Bearings in the 4th quarter valued at approximately $30,000. Harbor Investment Advisory LLC acquired a new position in RBC Bearings in the 4th quarter worth approximately $82,000. Blue Trust Inc. boosted its stake in RBC Bearings by 541.9% in the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 233 shares during the period. Finally, Quarry LP grew its position in RBC Bearings by 1,003.7% during the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 271 shares in the last quarter.

RBC Bearings Price Performance

Shares of RBC opened at $361.80 on Friday. 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 firm has a market cap of $11.36 billion, a PE ratio of 49.70, a PEG ratio of 4.81 and a beta of 1.58. RBC Bearings Incorporated has a twelve month low of $240.36 and a twelve month high of $372.51. The firm’s 50 day moving average price is $319.68 and its 200 day moving average price is $303.74.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RBC shares. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and increased their target price for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Morgan Stanley raised their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday. KeyCorp upped their target price on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. William Blair restated an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Finally, Truist Financial upped their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $348.50.

Insider Activity

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the stock in a transaction 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 transaction, the director now directly owns 6,728 shares of the company’s stock, valued at $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is owned by insiders.

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.