8,200 Shares in RBC Bearings Incorporated (NYSE:RBC) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,200 shares of the industrial products company's stock, valued at approximately $2,336,000.

Other institutional investors have also modified their holdings of the company. First Capital Advisors Group LLC. acquired a new stake in RBC Bearings during the second quarter worth approximately $26,000. LWM Advisory Services LLC acquired a new stake in RBC Bearings during the 3rd quarter worth $31,000. Compass Wealth Management LLC purchased a new stake in RBC Bearings in the first quarter valued at $34,000. Stephens Inc. AR acquired a new position in RBC Bearings in the first quarter valued at $36,000. Finally, First Manhattan CO. LLC. purchased a new position in shares of RBC Bearings during the first quarter worth about $40,000.

RBC Bearings Stock Performance

NYSE:RBC traded down $3.62 during midday trading on Wednesday, reaching $246.54. The stock had a trading volume of 158,969 shares, compared to its average volume of 119,017. The stock has a market cap of $6.95 billion, a P/E ratio of 41.23, a P/E/G ratio of 4.80 and a beta of 1.45. The company has a quick ratio of 1.12, a current ratio of 3.28 and a debt-to-equity ratio of 0.47. RBC Bearings Incorporated has a 12-month low of $195.18 and a 12-month high of $288.16. The firm has a fifty day simple moving average of $265.84 and a two-hundred day simple moving average of $258.21.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its earnings results on Thursday, February 8th. The industrial products company reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.08). The firm had revenue of $373.91 million during the quarter, compared to analysts' expectations of $376.61 million. RBC Bearings had a net margin of 12.81% and a return on equity of 9.64%. On average, equities analysts expect that RBC Bearings Incorporated will post 8.1 EPS for the current year.

Insider Transactions at RBC Bearings

In related news, COO Daniel A. Bergeron sold 15,000 shares of RBC Bearings stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $267.22, for a total value of $4,008,300.00. Following the sale, the chief operating officer now directly owns 121,935 shares in the company, valued at $32,583,470.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup upped their target price on RBC Bearings from $250.00 to $285.00 and gave the company a "neutral" rating in a research report on Monday, February 12th. Truist Financial increased their price objective on RBC Bearings from $271.00 to $309.00 and gave the company a "buy" rating in a report on Wednesday, January 10th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, RBC Bearings has an average rating of "Moderate Buy" and an average target price of $275.86.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.