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

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

RBC Bearings Price Performance

Shares of RBC Bearings stock traded down $2.08 during trading on Friday, reaching $369.67. The company's stock had a trading volume of 212,158 shares, compared to its average volume of 160,010. 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 12-month low of $260.53 and a 12-month high of $386.41. The company has a market capitalization of $11.61 billion, a P/E ratio of 50.78, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. The business has a 50 day moving average price of $350.35 and a 200-day moving average price of $337.77.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $440.26 million. During the same period in the previous year, the firm posted $2.47 earnings per share. RBC Bearings's revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Institutional Trading of RBC Bearings

A number of institutional investors and hedge funds have recently made changes to their positions in RBC. NBC Securities Inc. acquired a new position in shares of RBC Bearings during the 1st quarter valued at $25,000. Advisors Asset Management Inc. acquired a new stake in shares of RBC Bearings in the first quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of RBC Bearings by 109.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company's stock worth $36,000 after buying an additional 59 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of RBC Bearings in the fourth quarter worth $38,000. Finally, UMB Bank n.a. raised its holdings in shares of RBC Bearings by 80.8% during the first quarter. UMB Bank n.a. now owns 311 shares of the industrial products company's stock worth $100,000 after acquiring an additional 139 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Morgan Stanley restated an "overweight" rating and issued a $415.00 target price (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Truist Financial increased their price target on RBC Bearings from $405.00 to $431.00 and gave the stock a "buy" rating in a report on Thursday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $394.00.

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.