RBC Bearings Incorporated (NYSE:RBC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,624 shares of the industrial products company's stock after selling 1,004 shares during the period. New York State Common Retirement Fund owned about 0.09% of RBC Bearings worth $8,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its position in RBC Bearings by 18.5% in 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 buying an additional 2,584 shares during the period. Segall Bryant & Hamill LLC boosted its position 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 valued at $8,896,000 after buying an additional 8,725 shares during the period. TimesSquare Capital Management LLC boosted its position 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 valued at $27,125,000 after buying an additional 13,395 shares during the period. Holocene Advisors LP boosted its position 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 valued at $3,711,000 after buying an additional 5,078 shares during the period. Finally, State Street Corp boosted its position 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 valued at $253,028,000 after buying an additional 19,962 shares during the period.

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Insider Buying and Selling at RBC Bearings

In other news, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $362.25, for a total value of $2,898,000.00. Following the sale, the chief financial officer now owns 11,382 shares in the company, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael H. Ambrose sold 400 shares of RBC Bearings 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 sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 10,900 shares of company stock valued at $3,963,031. Corporate insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on RBC. Morgan Stanley boosted their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. William Blair restated an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Bank of America downgraded shares of RBC Bearings from a "buy" rating to a "neutral" rating and raised their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Truist Financial raised 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. Finally, KeyCorp lifted their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $361.20.

RBC Bearings Stock Performance

Shares of RBC Bearings stock traded up $1.46 during trading on Friday, hitting $359.08. 160,618 shares of the company's stock were exchanged, compared to its average volume of 147,652. RBC Bearings Incorporated has a 52-week low of $241.43 and a 52-week high of $372.83. 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 has a 50-day simple moving average of $330.00 and a 200-day simple moving average of $312.02. The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 49.32, a PEG ratio of 4.42 and a beta of 1.58.

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.