Daniel A. Bergeron Sells 3,718 Shares of RBC Bearings Incorporated (NYSE:RBC) Stock

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) COO Daniel A. Bergeron sold 3,718 shares of RBC Bearings stock in a transaction on Friday, June 6th. The shares were 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 of the company's stock, valued at approximately $42,476,526.14. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

RBC Bearings Stock Down 1.1%

Shares of NYSE RBC traded down $4.11 during midday trading on Thursday, hitting $371.48. 80,700 shares of the company's stock were exchanged, compared to its average volume of 159,147. The firm's fifty day simple moving average is $347.76 and its 200-day simple moving average is $337.35. The company has a market cap of $11.67 billion, a PE ratio of 51.03, a P/E/G ratio of 4.42 and a beta of 1.66. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month 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 - Get Free Report) last posted its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.13. The business had revenue of $437.70 million during 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 business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.47 EPS. Research analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analysts Set New Price Targets

RBC has been the subject of a number of recent research reports. Morgan Stanley reiterated an "overweight" rating and issued a $415.00 price target (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Truist Financial lifted their price objective on shares of RBC Bearings from $405.00 to $431.00 and gave the stock a "buy" rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $394.00.

Hedge Funds Weigh In On RBC Bearings

A number of hedge funds have recently modified their holdings of RBC. Yousif Capital Management LLC lifted its holdings in shares of RBC Bearings by 3.0% during the fourth quarter. Yousif Capital Management LLC now owns 11,017 shares of the industrial products company's stock worth $3,296,000 after purchasing an additional 321 shares during the period. Robertson Stephens Wealth Management LLC raised its position in shares of RBC Bearings by 12.6% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 838 shares of the industrial products company's stock worth $251,000 after purchasing an additional 94 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of RBC Bearings by 5.8% during the fourth quarter. State of Alaska Department of Revenue now owns 3,565 shares of the industrial products company's stock valued at $1,066,000 after acquiring an additional 195 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of RBC Bearings during the 4th quarter worth about $7,785,000. Finally, Golden State Wealth Management LLC purchased a new stake in RBC Bearings in the 4th quarter worth approximately $38,000.

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.