Strs Ohio Has $1.15 Million Holdings in RBC Bearings Incorporated (NYSE:RBC)

Strs Ohio reduced its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 11.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,039 shares of the industrial products company’s stock after selling 527 shares during the period. Strs Ohio’s holdings in RBC Bearings were worth $1,150,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Portside Wealth Group LLC increased its position in RBC Bearings by 4.8% during the 3rd quarter. Portside Wealth Group LLC now owns 1,104 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 51 shares during the period. Global Retirement Partners LLC lifted its position in shares of RBC Bearings by 16.1% in the 3rd quarter. Global Retirement Partners LLC now owns 383 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 53 shares during the period. Fifth Third Bancorp lifted its position in shares of RBC Bearings by 14.3% in the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 53 shares during the period. DAVENPORT & Co LLC lifted its position in shares of RBC Bearings by 0.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 7,018 shares of the industrial products company’s stock worth $1,643,000 after purchasing an additional 63 shares during the period. Finally, Bleakley Financial Group LLC lifted its position in shares of RBC Bearings by 2.1% in the 4th quarter. Bleakley Financial Group LLC now owns 3,197 shares of the industrial products company’s stock worth $911,000 after purchasing an additional 66 shares during the period.

RBC Bearings Price Performance

RBC opened at $244.31 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.28 and a quick ratio of 1.12. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 40.85, a P/E/G ratio of 4.66 and a beta of 1.45. The firm’s fifty day moving average price is $264.62 and its two-hundred day moving average price is $258.63. RBC Bearings Incorporated has a 1 year low of $195.18 and a 1 year high of $288.16.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). The firm had revenue of $373.91 million for the quarter, compared to analysts’ expectations of $376.61 million. RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. As a group, analysts anticipate that RBC Bearings Incorporated will post 8.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Truist Financial lifted their price objective on shares of RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, RBC Bearings has a consensus rating of “Moderate Buy” and a consensus target price of $275.86.

Insider Buying and Selling

In related news, COO Daniel A. Bergeron sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total value of $4,008,300.00. Following the transaction, the chief operating officer now directly owns 121,935 shares of the company’s stock, valued at approximately $32,583,470.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.90% of the stock is owned by insiders.

RBC Bearings Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.