RBC Bearings Incorporated (NYSE:RBC) COO Sells $1,421,056.78 in Stock

RBC Bearings Incorporated (NYSE:RBC) COO Daniel A. Bergeron sold 3,718 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $382.21, for a total value of $1,421,056.78. Following the completion of the transaction, the chief operating officer now owns 111,134 shares in the company, valued at approximately $42,476,526.14. The trade was a 3.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

RBC Bearings Trading Down 0.0%

Shares of RBC Bearings stock opened at $381.21 on Tuesday. The company has a market capitalization of $11.97 billion, a P/E ratio of 52.36, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. The stock has a fifty day simple moving average of $345.21 and a 200 day simple moving average of $336.80. RBC Bearings Incorporated has a 12-month low of $260.53 and a 12-month high of $386.41. 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 (NYSE:RBC) last posted its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) 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 period in the previous year, the firm earned $2.47 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RBC has been the topic of a number of research reports. 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. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 price objective (up from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $387.50.

Hedge Funds Weigh In On RBC Bearings

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of RBC Bearings by 8.5% in 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 acquiring an additional 229,466 shares in the last quarter. Durable Capital Partners LP grew its stake in RBC Bearings by 1.9% in the 4th quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company’s stock valued at $787,141,000 after purchasing an additional 48,287 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of RBC Bearings by 0.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,097,321 shares of the industrial products company’s stock valued at $328,253,000 after purchasing an additional 2,884 shares during the last quarter. Geneva Capital Management LLC raised its stake in shares of RBC Bearings by 1.0% during the 1st quarter. Geneva Capital Management LLC now owns 589,418 shares of the industrial products company’s stock worth $189,657,000 after purchasing an additional 5,753 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of RBC Bearings by 2.0% in the 1st quarter. Ameriprise Financial Inc. now owns 545,412 shares of the industrial products company’s stock worth $175,515,000 after buying an additional 10,531 shares during the last quarter.

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.