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Apr 07, 2025

California Public Employees Retirement System Sells 3,666 Shares of RBC Bearings Incorporated (NYSE:RBC)

California Public Employees Retirement System cut its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 7.5% during the fourth quarter, according to its most recent Form 13F filing

California Public Employees Retirement System cut its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,479 shares of the industrial products company's stock after selling 3,666 shares during the period. California Public Employees Retirement System owned 0.14% of RBC Bearings worth $13,605,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RBC. Pictet Asset Management Holding SA raised its stake in RBC Bearings by 14.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,896 shares of the industrial products company's stock valued at $1,165,000 after purchasing an additional 477 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of RBC Bearings during the fourth quarter valued at about $1,896,000. Norges Bank bought a new stake in shares of RBC Bearings in the fourth quarter valued at about $88,184,000. Blair William & Co. IL grew its position in RBC Bearings by 89.4% during the fourth quarter. Blair William & Co. IL now owns 185,600 shares of the industrial products company's stock worth $55,520,000 after buying an additional 87,624 shares in the last quarter. Finally, Summitry LLC increased its stake in RBC Bearings by 28.9% during the fourth quarter. Summitry LLC now owns 1,164 shares of the industrial products company's stock valued at $348,000 after acquiring an additional 261 shares during the period.

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the sale, the director now directly owns 6,728 shares of the company's stock, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $362.25, for a total transaction of $2,898,000.00. Following the completion of the transaction, the chief financial officer now owns 11,382 shares of the company's stock, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,900 shares of company stock worth $3,963,031 in the last quarter. 2.60% of the stock is owned by corporate insiders.

Several brokerages have recently weighed in on RBC. Truist Financial lifted their price objective on RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Morgan Stanley lifted their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Finally, KeyCorp raised their price objective 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, RBC Bearings currently has an average rating of "Moderate Buy" and a consensus price target of $361.20.

Get Our Latest Stock Analysis on RBC Bearings

RBC Bearings stock opened at $308.85 on Friday. The firm has a market capitalization of $9.70 billion, a P/E ratio of 42.42, a P/E/G ratio of 4.42 and a beta of 1.60. The stock has a fifty day moving average price of $345.86 and a two-hundred day moving average price of $320.54. RBC Bearings Incorporated has a 52-week low of $241.43 and a 52-week high of $372.83. 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 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.

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