Public Employees Retirement System of Ohio Has $10.42 Million Holdings in RBC Bearings Incorporated (NYSE:RBC)

Public Employees Retirement System of Ohio raised its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,839 shares of the industrial products company's stock after buying an additional 865 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.11% of RBC Bearings worth $10,422,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of RBC Bearings during the 4th quarter valued at $88,184,000. Raymond James Financial Inc. purchased a new stake in RBC Bearings in the 4th quarter worth about $71,324,000. Vanguard Group Inc. lifted its holdings in RBC Bearings by 8.5% during the 4th 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 in the last quarter. Ameriprise Financial Inc. lifted its stake in RBC Bearings by 32.6% in the fourth quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock worth $159,998,000 after acquiring an additional 131,614 shares during the period. Finally, First Trust Advisors LP raised its holdings in 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 in the last quarter.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial restated a "buy" rating and issued a $405.00 price objective (up from $375.00) on shares of RBC Bearings in a research report on Monday, May 19th. Morgan Stanley restated an "overweight" rating and issued a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Finally, KeyCorp raised their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $365.20.

RBC Bearings Stock Up 2.2%

NYSE:RBC traded up $8.07 on Tuesday, hitting $368.57. 171,218 shares of the company's stock traded hands, compared to its average volume of 159,120. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a 1 year low of $260.53 and a 1 year high of $380.49. The firm has a 50-day moving average price of $337.68 and a 200-day moving average price of $333.41. The company has a market cap of $11.58 billion, a PE ratio of 50.63, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66.

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

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.