Louisiana State Employees Retirement System Purchases 600 Shares of RBC Bearings Incorporated (NYSE:RBC)

Louisiana State Employees Retirement System raised its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,700 shares of the industrial products company’s stock after purchasing an additional 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in RBC Bearings were worth $2,603,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Jane Street Group LLC grew its stake in shares of RBC Bearings by 18.5% during the 3rd quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock valued at $4,951,000 after acquiring an additional 2,584 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in RBC Bearings by 41.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock worth $8,896,000 after purchasing an additional 8,725 shares in the last quarter. TimesSquare Capital Management LLC lifted its holdings in RBC Bearings by 17.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after purchasing an additional 13,395 shares in the last quarter. Holocene Advisors LP lifted its holdings in RBC Bearings by 69.4% in the 3rd quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company’s stock worth $3,711,000 after purchasing an additional 5,078 shares in the last quarter. Finally, State Street Corp lifted its holdings in RBC Bearings by 2.4% in the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock worth $253,028,000 after purchasing an additional 19,962 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms recently commented on RBC. Truist Financial boosted their price target on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. KeyCorp upped their price objective on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Finally, Morgan Stanley upped their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $361.20.

RBC Bearings Stock Performance

NYSE RBC opened at $362.51 on Friday. The company has a market cap of $11.39 billion, a P/E ratio of 49.79, a P/E/G ratio of 4.90 and a beta of 1.58. 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 business’s 50 day moving average price is $321.74 and its 200-day moving average price is $305.81. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week high of $372.51.

Insider Activity

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the company’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 transaction, the director now owns 6,728 shares of the company’s stock, valued at $2,441,523.92. This represents a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total value of $919,875.00. Following the completion of the transaction, the chief executive officer now directly owns 320,088 shares in the company, valued at $117,776,379.60. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is currently owned by insiders.

About RBC Bearings

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.