New York State Teachers Retirement System Purchases 100 Shares of RBC Bearings Incorporated (NYSE:RBC)

New York State Teachers Retirement System boosted its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 2.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,500 shares of the industrial products company’s stock after buying an additional 100 shares during the quarter. New York State Teachers Retirement System’s holdings in RBC Bearings were worth $1,282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in RBC. First Capital Advisors Group LLC. bought a new position in shares of RBC Bearings during the second quarter valued at about $26,000. LWM Advisory Services LLC bought a new position in RBC Bearings during the 3rd quarter valued at approximately $31,000. Compass Wealth Management LLC bought a new stake in shares of RBC Bearings in the 1st quarter worth approximately $34,000. Stephens Inc. AR purchased a new position in RBC Bearings during the 1st quarter valued at $36,000. Finally, First Manhattan CO. LLC. purchased a new position in shares of RBC Bearings during the first quarter valued at about $40,000.

Analysts Set New Price Targets

Several analysts have commented on RBC shares. Truist Financial raised their price objective on shares of RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Citigroup boosted their price objective on shares of RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently 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 that occurred on Wednesday, February 21st. The stock was 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.90% of the stock is currently owned by company insiders.

RBC Bearings Stock Down 1.4 %

RBC opened at $246.54 on Thursday. The firm’s 50 day simple moving average is $265.84 and its two-hundred day simple moving average is $258.21. The company has a market capitalization of $6.95 billion, a PE ratio of 41.23, a PEG ratio of 4.80 and a beta of 1.45. RBC Bearings Incorporated has a 1-year low of $195.18 and a 1-year high of $288.16. The company has a current ratio of 3.28, a quick ratio of 1.12 and a debt-to-equity ratio of 0.47.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). The firm had revenue of $373.91 million during the quarter, compared to the consensus estimate of $376.61 million. RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. As a group, equities analysts forecast that RBC Bearings Incorporated will post 8.1 EPS for the current year.

About RBC Bearings

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.