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

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) CEO Michael J. Hartnett sold 253 shares of RBC Bearings stock in a transaction 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 sale, the chief executive officer now owns 316,853 shares in the company, valued at $121,307,171.05. This trade represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

RBC Bearings Trading Down 1.0%

Shares of RBC traded down $3.62 during mid-day trading on Thursday, reaching $371.97. The company's stock had a trading volume of 35,162 shares, compared to its average volume of 158,980. RBC Bearings Incorporated has a 52 week low of $260.53 and a 52 week high of $386.41. The stock has a market cap of $11.68 billion, a PE ratio of 51.09, a P/E/G ratio of 4.42 and a beta of 1.66. The company's fifty day moving average price is $347.76 and its two-hundred day moving average price is $337.35. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its earnings results 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 net margin of 14.59% and a return on equity of 10.06%. The company had revenue of $437.70 million for the quarter, compared to analysts' expectations of $440.26 million. During the same quarter last year, the company earned $2.47 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. On average, analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RBC Bearings

A number of large investors have recently bought and sold shares of RBC. Deutsche Bank AG increased its stake in shares of RBC Bearings by 2.9% in the fourth quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock worth $529,000 after buying an additional 49 shares during the period. Bank of New York Mellon Corp increased its position in shares of RBC Bearings by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company's stock valued at $59,581,000 after acquiring an additional 1,103 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of RBC Bearings by 39.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company's stock valued at $66,247,000 after acquiring an additional 62,706 shares during the last quarter. Callan Family Office LLC boosted its holdings in shares of RBC Bearings by 251.7% during the fourth quarter. Callan Family Office LLC now owns 2,416 shares of the industrial products company's stock worth $723,000 after purchasing an additional 1,729 shares during the period. Finally, Advantage Alpha Capital Partners LP grew its stake in shares of RBC Bearings by 35.3% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 18,514 shares of the industrial products company's stock worth $5,545,000 after purchasing an additional 4,835 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RBC shares. Morgan Stanley reissued an "overweight" rating and issued a $415.00 price target (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Truist Financial upped their target price 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, RBC Bearings currently has an average rating of "Moderate Buy" and a consensus price target of $394.00.

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.