Louisiana State Employees Retirement System Sells 100 Shares of RBC Bearings Incorporated (NYSE:RBC)

Louisiana State Employees Retirement System reduced its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,100 shares of the industrial products company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in RBC Bearings were worth $2,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 75 shares in the last quarter. DT Investment Partners LLC bought a new stake in RBC Bearings during the second quarter worth $35,000. Opal Wealth Advisors LLC bought a new stake in RBC Bearings during the second quarter worth $41,000. Canada Pension Plan Investment Board bought a new stake in RBC Bearings during the second quarter worth $54,000. Finally, Strategic Financial Concepts LLC bought a new stake in RBC Bearings during the second quarter worth $68,000.

Analyst Ratings Changes

Separately, Truist Financial dropped their price target on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $287.67.

RBC Bearings Price Performance

Shares of RBC opened at $288.57 on Tuesday. The firm has a market capitalization of $8.43 billion, a PE ratio of 42.56, a PEG ratio of 3.30 and a beta of 1.51. The company’s 50-day moving average is $290.42 and its 200-day moving average is $280.63. RBC Bearings Incorporated has a fifty-two week low of $214.14 and a fifty-two week high of $309.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.01 and a quick ratio of 1.09.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.33. The company had revenue of $406.30 million for the quarter, compared to analyst estimates of $416.65 million. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. The company’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.98 earnings per share. Equities analysts forecast that RBC Bearings Incorporated will post 8.95 EPS for the current year.

Insider Activity at RBC Bearings

In related news, CEO Michael J. Hartnett sold 503 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total value of $145,367.00. Following the transaction, the chief executive officer now directly owns 322,588 shares in the company, valued at approximately $93,227,932. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Edward Stewart sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $277.24, for a total value of $831,720.00. Following the transaction, the director now directly owns 20,461 shares in the company, valued at approximately $5,672,607.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Hartnett sold 503 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total transaction of $145,367.00. Following the sale, the chief executive officer now owns 322,588 shares in the company, valued at $93,227,932. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,327 shares of company stock worth $11,900,641. Corporate insiders own 2.60% of the company’s stock.

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.