RBC Bearings Incorporated (NYSE:RBC) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System grew its holdings in RBC Bearings Incorporated (NYSE:RBC) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,059 shares of the industrial products company’s stock after purchasing an additional 102 shares during the quarter. Arizona State Retirement System’s holdings in RBC Bearings were worth $2,411,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Jane Street Group LLC grew its position in shares of RBC Bearings by 18.5% in the third quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock valued at $4,951,000 after purchasing an additional 2,584 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in shares of RBC Bearings by 41.6% in the third quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock valued at $8,896,000 after purchasing an additional 8,725 shares during the last quarter. Holocene Advisors LP grew its position in shares of RBC Bearings by 69.4% in the third quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company’s stock valued at $3,711,000 after purchasing an additional 5,078 shares during the last quarter. State Street Corp grew its position in shares of RBC Bearings by 2.4% in the third quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock valued at $253,028,000 after purchasing an additional 19,962 shares during the last quarter. Finally, Citigroup Inc. grew its position in shares of RBC Bearings by 7.0% in the third quarter. Citigroup Inc. now owns 27,157 shares of the industrial products company’s stock valued at $8,130,000 after purchasing an additional 1,770 shares during the last quarter.

Insiders Place Their Bets

In other 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 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 $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert M. Sullivan sold 8,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 11,382 shares of the company’s stock, valued at $4,123,129.50. The trade was a 41.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,900 shares of company stock valued at $3,963,031 over the last quarter. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. 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. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their price objective for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. KeyCorp upped their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, William Blair reissued an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average target price of $361.20.

RBC Bearings Stock Performance

NYSE:RBC opened at $345.03 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The company has a market cap of $10.84 billion, a P/E ratio of 47.39, a P/E/G ratio of 4.42 and a beta of 1.72. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week high of $372.83. The firm’s 50 day moving average is $335.87 and its two-hundred day moving average is $315.11.

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.