RBC Bearings Incorporated (NYSE:RBC) Shares Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio boosted its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,839 shares of the industrial products company's stock after purchasing an additional 865 shares during the period. Public Employees Retirement System of Ohio owned about 0.11% of RBC Bearings worth $10,422,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RBC. Norges Bank purchased a new stake in shares of RBC Bearings during the 4th quarter valued at about $88,184,000. Raymond James Financial Inc. purchased a new stake in shares of RBC Bearings during the fourth quarter worth about $71,324,000. Vanguard Group Inc. raised its position in shares of RBC Bearings by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock valued at $879,149,000 after buying an additional 229,466 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in RBC Bearings by 32.6% in the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock worth $159,998,000 after purchasing an additional 131,614 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of RBC Bearings by 63.5% in the fourth quarter. First Trust Advisors LP now owns 315,661 shares of the industrial products company's stock worth $94,427,000 after purchasing an additional 122,552 shares during the last quarter.

RBC Bearings Stock Performance

NYSE:RBC traded down $0.48 during midday trading on Thursday, hitting $364.48. The company's stock had a trading volume of 115,738 shares, compared to its average volume of 162,019. The firm's 50 day moving average is $338.38 and its 200-day moving average is $333.62. The firm has a market cap of $11.45 billion, a P/E ratio of 50.07, a P/E/G ratio of 4.42 and a beta of 1.66. RBC Bearings Incorporated has a fifty-two week low of $260.53 and a fifty-two week high of $380.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.13. The firm had revenue of $437.70 million for the quarter, compared to analysts' expectations of $440.26 million. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $2.47 EPS. Equities analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RBC. KeyCorp boosted their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Truist Financial reaffirmed a "buy" rating and set a $405.00 target price (up from $375.00) on shares of RBC Bearings in a research report on Monday, May 19th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $415.00 price target (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, RBC Bearings presently has an average rating of "Moderate Buy" and a consensus target price of $387.50.

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.