RBC Bearings Incorporated (NYSE:RBC) CEO Michael J. Hartnett Sells 253 Shares

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) CEO Michael J. Hartnett sold 253 shares of RBC Bearings stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $382.85, for a total transaction of $96,861.05. Following the completion of the transaction, the chief executive officer now owns 316,853 shares of the company's stock, valued at $121,307,171.05. This trade represents a 0.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

RBC Bearings Price Performance

NYSE:RBC traded down $2.08 during trading hours on Friday, reaching $369.67. The company had a trading volume of 212,158 shares, compared to its average volume of 160,010. The stock has a 50-day moving average of $350.35 and a two-hundred day moving average of $337.77. RBC Bearings Incorporated has a one year low of $260.53 and a one year high of $386.41. The firm has a market capitalization of $11.61 billion, a PE ratio of 50.78, a PEG 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 (NYSE:RBC - Get Free Report) last announced its earnings results on Friday, May 16th. The industrial products company reported $2.83 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 company had revenue of $437.70 million for the quarter, compared to analysts' expectations of $440.26 million. During the same quarter in the prior year, the business earned $2.47 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. Analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Strs Ohio bought a new stake in RBC Bearings in the 1st quarter valued at $1,632,000. Advisors Capital Management LLC raised its holdings in shares of 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 buying an additional 1,497 shares in the last quarter. Jane Street Group LLC increased its holdings in RBC Bearings by 198.2% in the 1st quarter. Jane Street Group LLC now owns 4,861 shares of the industrial products company's stock worth $1,564,000 after purchasing an additional 3,231 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in RBC Bearings by 1.4% in the 1st 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 position in RBC Bearings in the 1st quarter worth about $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.