Daniel A. Bergeron Sells 31,282 Shares of RBC Bearings Incorporated (NYSE:RBC) Stock

RBC Bearings Incorporated (NYSE:RBCGet Free Report) COO Daniel A. Bergeron sold 31,282 shares of RBC Bearings stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $380.28, for a total value of $11,895,918.96. Following the transaction, the chief operating officer now directly owns 111,134 shares in the company, valued at approximately $42,262,037.52. This trade represents a 21.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

RBC Bearings Stock Performance

Shares of RBC stock opened at $375.35 on Thursday. RBC Bearings Incorporated has a fifty-two week low of $260.53 and a fifty-two week high of $386.41. The stock’s 50-day moving average is $347.76 and its two-hundred day moving average is $337.35. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The firm has a market cap of $11.79 billion, a P/E ratio of 51.56, a PEG ratio of 4.42 and a beta of 1.66.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Deutsche Bank AG lifted its stake in shares of RBC Bearings by 2.9% in the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company’s stock valued at $529,000 after purchasing an additional 49 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of RBC Bearings by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company’s stock worth $59,581,000 after buying an additional 1,103 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of RBC Bearings by 39.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company’s stock worth $66,247,000 after buying an additional 62,706 shares during the last quarter. Callan Family Office LLC boosted its stake in shares of RBC Bearings by 251.7% during the 4th quarter. Callan Family Office LLC now owns 2,416 shares of the industrial products company’s stock worth $723,000 after acquiring an additional 1,729 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP increased its holdings in shares of RBC Bearings by 35.3% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 18,514 shares of the industrial products company’s stock valued at $5,545,000 after acquiring an additional 4,835 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Truist Financial restated a “buy” rating and set a $405.00 price target (up from $375.00) on shares of RBC Bearings in a report on Monday, May 19th. Morgan Stanley reiterated 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $387.50.

Get Our Latest Stock Analysis on RBC Bearings

RBC Bearings Company Profile

(Get Free Report)

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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