California State Teachers Retirement System Has $8.71 Million Position in RBC Bearings Incorporated (NYSE:RBC)

California State Teachers Retirement System trimmed its position in RBC Bearings Incorporated (NYSE:RBCFree Report) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,574 shares of the industrial products company’s stock after selling 1,386 shares during the period. California State Teachers Retirement System owned approximately 0.10% of RBC Bearings worth $8,710,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RBC. Vanguard Group Inc. raised its holdings in RBC Bearings by 2.2% in the third quarter. Vanguard Group Inc. now owns 2,694,538 shares of the industrial products company’s stock worth $630,872,000 after purchasing an additional 57,510 shares during the period. JPMorgan Chase & Co. lifted its holdings in RBC Bearings by 16.1% during the third quarter. JPMorgan Chase & Co. now owns 712,962 shares of the industrial products company’s stock worth $166,926,000 after acquiring an additional 99,066 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in RBC Bearings by 0.5% in the fourth quarter. Conestoga Capital Advisors LLC now owns 695,547 shares of the industrial products company’s stock valued at $198,154,000 after acquiring an additional 3,415 shares during the period. Geneva Capital Management LLC increased its holdings in shares of RBC Bearings by 0.5% in the fourth quarter. Geneva Capital Management LLC now owns 585,988 shares of the industrial products company’s stock worth $166,942,000 after acquiring an additional 2,668 shares in the last quarter. Finally, Bamco Inc. NY increased its holdings in shares of RBC Bearings by 0.8% in the third quarter. Bamco Inc. NY now owns 386,570 shares of the industrial products company’s stock worth $90,508,000 after acquiring an additional 3,084 shares in the last quarter.

RBC Bearings Stock Performance

Shares of NYSE RBC opened at $279.92 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.16 and a current ratio of 3.28. The stock has a 50 day moving average price of $267.64 and a 200 day moving average price of $268.37. The stock has a market capitalization of $8.10 billion, a PE ratio of 43.74, a price-to-earnings-growth ratio of 3.45 and a beta of 1.55. RBC Bearings Incorporated has a 52 week low of $203.65 and a 52 week high of $299.24.

RBC Bearings (NYSE:RBCGet Free Report) last released its quarterly earnings data on Friday, May 17th. The industrial products company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.25 by $0.22. The company had revenue of $413.70 million during the quarter, compared to the consensus estimate of $414.21 million. RBC Bearings had a return on equity of 9.81% and a net margin of 13.45%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.06 EPS. Analysts predict that RBC Bearings Incorporated will post 8.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on RBC. The Goldman Sachs Group boosted their price objective on RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Morgan Stanley increased their target price on RBC Bearings from $310.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Citigroup boosted their price target on RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, February 12th. William Blair began coverage on RBC Bearings in a report on Wednesday, May 29th. They set an “outperform” rating for the company. Finally, Truist Financial boosted their target price on RBC Bearings from $309.00 to $328.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Three equities research 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $286.57.

Get Our Latest Analysis on RBC Bearings

RBC Bearings Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for RBC Bearings (NYSE:RBC)

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