Retirement Systems of Alabama Raises Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Retirement Systems of Alabama grew its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and 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 have also added to or reduced their stakes in the business. UMB Bank n.a. increased its stake in shares of RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company's stock worth $28,000 after purchasing an additional 75 shares in the last quarter. R Squared Ltd purchased a new stake in shares of RBC Bearings in the fourth quarter worth $30,000. Harbor Investment Advisory LLC purchased a new stake in shares of RBC Bearings in the fourth quarter worth $82,000. Blue Trust Inc. increased its stake in shares of RBC Bearings by 541.9% in the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company's stock worth $83,000 after purchasing an additional 233 shares in the last quarter. Finally, Quarry LP increased its stake in shares of RBC Bearings by 1,003.7% in the third quarter. Quarry LP now owns 298 shares of the industrial products company's stock worth $89,000 after purchasing an additional 271 shares in the last quarter.

RBC Bearings Price Performance

Shares of NYSE:RBC traded up $1.12 on Tuesday, reaching $364.76. The company's stock had a trading volume of 70,819 shares, compared to its average volume of 157,019. RBC Bearings Incorporated has a 52-week low of $241.43 and a 52-week high of $372.51. The company has a market cap of $11.46 billion, a P/E ratio of 50.11, a PEG ratio of 4.90 and a beta of 1.58. The company has a 50-day simple moving average of $320.71 and a 200 day simple moving average of $305.01. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43.

Analyst Ratings Changes

A number of analysts have recently issued reports on RBC shares. KeyCorp increased 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. William Blair reissued an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Morgan Stanley raised their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. 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, Bank of America cut 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. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, RBC Bearings currently has an average rating of "Moderate Buy" and an average target price of $348.50.

Insider Transactions at RBC Bearings

In related news, 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 $2,441,523.92. This trade represents a 5.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Hartnett sold 2,500 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following 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. Company insiders own 2.60% of the company's stock.

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.