RBC Bearings Incorporated (NYSE:RBC) CEO Michael J. Hartnett Sells 26,725 Shares

RBC Bearings Incorporated (NYSE:RBC) CEO Michael J. Hartnett sold 26,725 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $381.09, for a total transaction of $10,184,630.25. Following the completion of the transaction, the chief executive officer now owns 316,853 shares of the company’s stock, valued at $120,749,509.77. This represents a 7.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

RBC Bearings Stock Performance

Shares of RBC opened at $375.35 on Thursday. The firm has a 50-day moving average price of $347.76 and a 200 day moving average price of $337.35. The firm has a market capitalization of $11.79 billion, a PE ratio of 51.56, a P/E/G ratio of 4.42 and a beta of 1.66. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a 52-week low of $260.53 and a 52-week high of $386.41.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 company had revenue of $437.70 million during the quarter, compared to the consensus estimate of $440.26 million. During the same period in the prior year, the company earned $2.47 EPS. RBC Bearings’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RBC Bearings

Institutional investors and hedge funds have recently bought and sold shares of the business. NBC Securities Inc. acquired a new stake in RBC Bearings in the 1st quarter valued at about $25,000. Advisors Asset Management Inc. acquired a new stake in RBC Bearings in the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in RBC Bearings by 109.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 59 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in RBC Bearings in the 4th quarter valued at about $38,000. Finally, UMB Bank n.a. lifted its holdings in RBC Bearings by 80.8% in the 1st quarter. UMB Bank n.a. now owns 311 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 139 shares during the last quarter.

Wall Street Analysts Forecast Growth

RBC has been the subject of a number of recent analyst reports. 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. Truist Financial reiterated a “buy” rating and issued a $405.00 target price (up previously from $375.00) on shares of RBC Bearings in a research report on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.50.

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.