Illinois Municipal Retirement Fund Has $620,000 Position in RBC Bearings Incorporated (NYSE:RBC)

Illinois Municipal Retirement Fund cut its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 45.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,177 shares of the industrial products company’s stock after selling 1,825 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in RBC Bearings were worth $620,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RBC. LWM Advisory Services LLC acquired a new position in shares of RBC Bearings during the 3rd quarter worth approximately $31,000. Operose Advisors LLC acquired a new position in RBC Bearings in the 3rd quarter valued at $45,000. RiverPark Advisors LLC acquired a new position in RBC Bearings in the 3rd quarter valued at $69,000. Fifth Third Bancorp grew its holdings in RBC Bearings by 14.3% in the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company’s stock valued at $99,000 after buying an additional 53 shares in the last quarter. Finally, Covestor Ltd grew its holdings in RBC Bearings by 17.6% in the 3rd quarter. Covestor Ltd now owns 507 shares of the industrial products company’s stock valued at $119,000 after buying an additional 76 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have commented on the company. Truist Financial upped their price objective on RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Citigroup upped their price objective on RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $275.86.

RBC Bearings Trading Up 0.6 %

Shares of RBC stock opened at $246.48 on Tuesday. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 4.66 and a beta of 1.45. The stock has a 50-day moving average of $262.10 and a 200-day moving average of $258.80. 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 Incorporated has a 1-year low of $195.18 and a 1-year high of $288.16.

RBC Bearings (NYSE:RBC) last released its earnings results on Thursday, February 8th. The industrial products company reported $1.75 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.08). RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. The business had revenue of $373.91 million for the quarter, compared to analyst estimates of $376.61 million. On average, equities research analysts forecast that RBC Bearings Incorporated will post 8.02 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Daniel A. Bergeron sold 15,000 shares of the firm’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 transaction of $4,008,300.00. Following the completion of the sale, the chief operating officer now owns 121,935 shares of the company’s stock, valued at $32,583,470.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently 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.