Teacher Retirement System of Texas Sells 1,251 Shares of RBC Bearings Incorporated $RBC

Teacher Retirement System of Texas decreased its position in RBC Bearings Incorporated (NYSE:RBC) by 7.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,948 shares of the industrial products company’s stock after selling 1,251 shares during the period. Teacher Retirement System of Texas owned approximately 0.05% of RBC Bearings worth $6,137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vista Finance LLC lifted its holdings in RBC Bearings by 4.1% during the second quarter. Vista Finance LLC now owns 915 shares of the industrial products company’s stock worth $352,000 after acquiring an additional 36 shares in the last quarter. Sheets Smith Wealth Management raised its position in shares of RBC Bearings by 0.9% during the second quarter. Sheets Smith Wealth Management now owns 5,064 shares of the industrial products company’s stock worth $1,949,000 after purchasing an additional 44 shares during the period. Xponance Inc. raised its position in shares of RBC Bearings by 1.5% during the first quarter. Xponance Inc. now owns 3,491 shares of the industrial products company’s stock worth $1,123,000 after purchasing an additional 51 shares during the period. Harbor Investment Advisory LLC raised its position in shares of RBC Bearings by 19.8% during the second quarter. Harbor Investment Advisory LLC now owns 327 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 54 shares during the period. Finally, Huntleigh Advisors Inc. raised its position in shares of RBC Bearings by 0.9% during the second quarter. Huntleigh Advisors Inc. now owns 6,633 shares of the industrial products company’s stock worth $2,552,000 after purchasing an additional 56 shares during the period.

RBC Bearings Stock Performance

Shares of RBC opened at $407.93 on Friday. The firm has a 50-day moving average of $386.77 and a 200-day moving average of $376.84. RBC Bearings Incorporated has a one year low of $272.50 and a one year high of $416.88. The company has a market cap of $12.87 billion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 3.16 and a beta of 1.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.33 and a quick ratio of 1.33.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. The company had revenue of $156.21 million during the quarter. As a group, equities analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Insider Activity at RBC Bearings

In other RBC Bearings news, COO Daniel A. Bergeron sold 48,743 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $402.75, for a total value of $19,631,243.25. Following the sale, the chief operating officer owned 111,134 shares in the company, valued at $44,759,218.50. This represents a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John J. Feeney sold 105 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $382.83, for a total value of $40,197.15. Following the transaction, the vice president directly owned 2,666 shares in the company, valued at $1,020,624.78. The trade was a 3.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on RBC shares. Weiss Ratings reissued a “buy (b)” rating on shares of RBC Bearings in a research note on Wednesday, October 8th. Truist Financial boosted their price objective on shares of RBC Bearings from $431.00 to $455.00 and gave the company a “buy” rating in a research report on Monday, August 4th. The Goldman Sachs Group boosted their price objective on shares of RBC Bearings from $375.00 to $416.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. KeyCorp lifted their price target on RBC Bearings from $405.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft set a $503.00 price target on RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, RBC Bearings currently has an average rating of “Moderate Buy” and a consensus price target of $429.00.

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.