Public Employees Retirement Association of Colorado Trims Stock Holdings in RBC Bearings Incorporated $RBC

Public Employees Retirement Association of Colorado trimmed its position in RBC Bearings Incorporated (NYSE:RBC) by 12.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 87,057 shares of the industrial products company’s stock after selling 12,900 shares during the period. Public Employees Retirement Association of Colorado’s holdings in RBC Bearings were worth $39,039,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RBC. Advisors Asset Management Inc. purchased a new stake in RBC Bearings in the first quarter worth $26,000. SBI Securities Co. Ltd. grew its stake in RBC Bearings by 106.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 33 shares during the period. Larson Financial Group LLC grew its stake in RBC Bearings by 148.5% in the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 49 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in RBC Bearings in the fourth quarter worth $35,000. Finally, EverSource Wealth Advisors LLC grew its stake in RBC Bearings by 123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 53 shares during the period.

Insider Activity at RBC Bearings

In other news, Director Edward Stewart sold 600 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total value of $355,698.00. Following the sale, the director directly owned 21,337 shares of the company’s stock, valued at approximately $12,649,213.71. This represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Wall Street Zen raised RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings raised RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Morgan Stanley upped their price target on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $615.00 price target (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $584.00.

RBC Bearings Trading Down 0.1%

NYSE RBC opened at $603.22 on Monday. RBC Bearings Incorporated has a 12 month low of $363.05 and a 12 month high of $632.00. The stock has a market cap of $19.09 billion, a P/E ratio of 66.36, a P/E/G ratio of 3.49 and a beta of 1.42. The stock’s fifty day moving average price is $586.12 and its 200-day moving average price is $534.33. The company has a current ratio of 2.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm had revenue of $518.00 million for the quarter, compared to analysts’ expectations of $505.90 million. During the same period in the prior year, the firm posted $2.83 earnings per share. The company’s quarterly revenue was up 18.3% on a year-over-year basis. As a group, equities analysts forecast that RBC Bearings Incorporated will post 13.58 EPS for the current fiscal year.

RBC Bearings Company 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.