RBC Bearings Incorporated (NYSE:RBC - Get Free Report) CEO Michael J. Hartnett sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $1,875,000.00. Following the sale, the chief executive officer now directly owns 311,853 shares of the company's stock, valued at approximately $116,944,875. This trade represents a 1.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
RBC Bearings Price Performance
Shares of RBC traded down $2.79 during midday trading on Thursday, hitting $372.80. 26,403 shares of the company traded hands, compared to its average volume of 158,935. The stock has a 50-day moving average of $347.76 and a 200-day moving average of $337.35. The firm has a market cap of $11.71 billion, a P/E ratio of 51.21, a PEG ratio of 4.42 and a beta of 1.66. RBC Bearings Incorporated has a one year low of $260.53 and a one 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 - Get Free Report) last released its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share 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 company had revenue of $437.70 million during the quarter, compared to the consensus estimate of $440.26 million. During the same quarter in the previous year, the company posted $2.47 EPS. RBC Bearings's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. 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. Morgan Stanley restated an "overweight" rating and set a $415.00 price objective (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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $394.00.
View Our Latest Research Report on RBC
Institutional Investors Weigh In On RBC Bearings
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of RBC Bearings by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock worth $879,149,000 after purchasing an additional 229,466 shares during the period. Durable Capital Partners LP lifted its holdings in RBC Bearings by 1.9% in the 4th quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company's stock worth $787,141,000 after buying an additional 48,287 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in RBC Bearings by 0.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,097,321 shares of the industrial products company's stock worth $328,253,000 after buying an additional 2,884 shares during the period. Geneva Capital Management LLC grew its position in shares of RBC Bearings by 1.0% in the 1st quarter. Geneva Capital Management LLC now owns 589,418 shares of the industrial products company's stock worth $189,657,000 after buying an additional 5,753 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of RBC Bearings by 2.0% during the first quarter. Ameriprise Financial Inc. now owns 545,412 shares of the industrial products company's stock valued at $175,515,000 after buying an additional 10,531 shares during the period.
About RBC Bearings
(
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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.
Further Reading
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