RBC Bearings Incorporated (NYSE:RBC) CEO Sells $96,861.05 in Stock

RBC Bearings Incorporated (NYSE:RBC) CEO Michael J. Hartnett sold 253 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $382.85, for a total value of $96,861.05. Following the transaction, the chief executive officer now directly owns 316,853 shares of the company’s stock, valued at approximately $121,307,171.05. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

RBC Bearings Trading Down 0.4%

RBC opened at $375.35 on Thursday. The firm has a market capitalization of $11.79 billion, a price-to-earnings ratio of 51.56, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. The company’s 50 day simple moving average is $347.76 and its two-hundred day simple moving average is $337.35. RBC Bearings Incorporated has a 1-year low of $260.53 and a 1-year high of $386.41. 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 (NYSE:RBC) last announced 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. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The firm had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.26 million. During the same quarter last year, the business posted $2.47 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. Analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Truist Financial restated a “buy” rating and set a $405.00 price target (up previously from $375.00) on shares of RBC Bearings in a research report on Monday, May 19th. Morgan Stanley reissued an “overweight” rating and set a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.50.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RBC. Strs Ohio acquired a new stake in shares of RBC Bearings in the first quarter valued at $1,632,000. Advisors Capital Management LLC grew its position in RBC Bearings by 5.4% during the 1st quarter. Advisors Capital Management LLC now owns 29,391 shares of the industrial products company’s stock worth $9,457,000 after purchasing an additional 1,497 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of RBC Bearings by 198.2% in the first quarter. Jane Street Group LLC now owns 4,861 shares of the industrial products company’s stock valued at $1,564,000 after purchasing an additional 3,231 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in RBC Bearings by 1.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,770 shares of the industrial products company’s stock worth $21,163,000 after purchasing an additional 923 shares in the last quarter. Finally, United Services Automobile Association acquired a new stake in RBC Bearings in the first quarter valued at $635,000.

RBC Bearings Company Profile

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.