Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 494 Shares of RBC Bearings Incorporated (NYSE:RBC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,899 shares of the industrial products company’s stock after purchasing an additional 494 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in RBC Bearings were worth $2,064,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Torray Investment Partners LLC increased its stake in RBC Bearings by 0.3% in the 4th quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock valued at $2,533,000 after buying an additional 28 shares during the last quarter. Curated Wealth Partners LLC increased its position in shares of RBC Bearings by 1.6% during the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock valued at $595,000 after acquiring an additional 32 shares during the last quarter. Argonautica Private Wealth Management Inc. lifted its holdings in RBC Bearings by 3.4% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company’s stock worth $418,000 after acquiring an additional 46 shares during the period. CIBC Asset Management Inc lifted its holdings in RBC Bearings by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock worth $273,000 after acquiring an additional 47 shares during the period. Finally, Norden Group LLC grew its stake in RBC Bearings by 6.7% in the 4th quarter. Norden Group LLC now owns 780 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 49 shares during the period.

RBC Bearings Price Performance

Shares of NYSE:RBC opened at $334.85 on Tuesday. The company has a 50-day moving average price of $343.42 and a two-hundred day moving average price of $318.16. RBC Bearings Incorporated has a twelve month low of $241.43 and a twelve month high of $372.83. 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 firm has a market capitalization of $10.52 billion, a PE ratio of 46.00, a P/E/G ratio of 4.42 and a beta of 1.72.

Insider Buying and Selling

In other news, Director Michael H. Ambrose sold 400 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the completion of the transaction, the director now directly owns 6,728 shares of the company’s stock, valued at $2,441,523.92. This trade 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 the SEC website. Also, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $362.25, for a total value of $2,898,000.00. Following the completion of the transaction, the chief financial officer now owns 11,382 shares of the company’s stock, valued at approximately $4,123,129.50. This trade represents a 41.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,900 shares of company stock valued at $3,963,031. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

RBC has been the topic of a number of recent analyst reports. KeyCorp lifted 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. Morgan Stanley raised their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Truist Financial boosted their target price 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. Finally, William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $361.20.

RBC Bearings Profile

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.