RBC Bearings Incorporated $RBC Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System raised its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 61,201.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,261,065 shares of the industrial products company's stock after purchasing an additional 21,226,382 shares during the period. California State Teachers Retirement System owned 67.15% of RBC Bearings worth $13,693,402,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new position in shares of RBC Bearings in the 1st quarter valued at about $26,000. Western Wealth Management LLC purchased a new position in shares of RBC Bearings in the 1st quarter valued at $27,000. SBI Securities Co. Ltd. lifted its position in RBC Bearings by 106.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 33 shares during the last quarter. Larson Financial Group LLC boosted its stake in RBC Bearings by 148.5% in the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 49 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of RBC Bearings by 123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company's stock worth $37,000 after purchasing an additional 53 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RBC shares. Wall Street Zen downgraded RBC Bearings from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Zacks Research downgraded RBC Bearings from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 3rd. Weiss Ratings downgraded shares of RBC Bearings from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 27th. Royal Bank Of Canada set a $645.00 price objective on shares of RBC Bearings in a research report on Monday, August 3rd. Finally, Raymond James Financial raised shares of RBC Bearings from a "market perform" rating to an "outperform" rating and set a $645.00 target price for the company in a report on Monday, August 3rd. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, RBC Bearings presently has a consensus rating of "Moderate Buy" and an average price target of $623.00.

RBC Bearings Stock Performance

NYSE:RBC opened at $492.43 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 0.98. The firm has a market cap of $15.59 billion, a price-to-earnings ratio of 48.66, a price-to-earnings-growth ratio of 2.62 and a beta of 1.39. The firm's fifty day moving average price is $554.12 and its 200 day moving average price is $572.27. RBC Bearings Incorporated has a 1-year low of $364.50 and a 1-year high of $667.69.

RBC Bearings (NYSE:RBC - Get Free Report) last released its earnings results on Friday, July 31st. The industrial products company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.42 by $0.46. The company had revenue of $519.50 million during the quarter, compared to analysts' expectations of $508.92 million. RBC Bearings had a net margin of 16.40% and a return on equity of 12.06%. The business's revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the business earned $2.84 EPS. On average, sell-side analysts expect that RBC Bearings Incorporated will post 14.12 EPS for the current year.

Insider Activity

In related news, Director Dolores Ennico sold 600 shares of the firm's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total value of $381,666.00. Following the completion of the sale, the director owned 7,254 shares in the company, valued at $4,614,341.94. This trade represents a 7.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John Feeney sold 225 shares of RBC Bearings stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total value of $148,036.50. Following the completion of the sale, the vice president directly owned 2,378 shares in the company, valued at $1,564,581.32. This represents a 8.64% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.80% of the company's stock.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company's product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company's bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.

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