RBC Bearings Incorporated (NYSE:RBC) Stock Position Raised by Retirement Systems of Alabama

Retirement Systems of Alabama raised its stake in RBC Bearings Incorporated (NYSE:RBC) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,521 shares of the industrial products company’s stock after acquiring an additional 3,276 shares during the period. Retirement Systems of Alabama owned 0.13% of RBC Bearings worth $12,421,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in RBC. State Street Corp boosted its position in RBC Bearings by 2.4% during the 3rd 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 period. Conestoga Capital Advisors LLC lifted its stake in RBC Bearings by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company’s stock valued at $221,793,000 after buying an additional 12,375 shares during the last quarter. Geneva Capital Management LLC boosted its holdings in shares of RBC Bearings by 1.4% during the third quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock valued at $176,829,000 after acquiring an additional 8,012 shares during the period. Geode Capital Management LLC grew its position in shares of RBC Bearings by 1.1% during the third quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company’s stock worth $144,490,000 after acquiring an additional 5,040 shares during the last quarter. Finally, Port Capital LLC increased its holdings in shares of RBC Bearings by 0.9% in the 3rd quarter. Port Capital LLC now owns 385,101 shares of the industrial products company’s stock worth $115,292,000 after acquiring an additional 3,525 shares during the period.

Analyst Upgrades and Downgrades

RBC has been the subject of a number of analyst reports. 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. Bank of America downgraded RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. KeyCorp lifted their target price on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Morgan Stanley increased their price target on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, William Blair reissued an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $348.50.

Insider Buying and Selling

In other news, Director Michael H. Ambrose sold 400 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of the transaction, the director now owns 6,728 shares in the company, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

RBC Bearings Stock Down 1.0 %

Shares of RBC stock opened at $361.80 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The stock has a market cap of $11.36 billion, a PE ratio of 49.70, a price-to-earnings-growth ratio of 4.81 and a beta of 1.58. The business’s fifty day moving average is $319.68 and its 200-day moving average is $303.74. RBC Bearings Incorporated has a 1 year low of $240.36 and a 1 year high of $372.51.

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.