RBC Bearings Incorporated (NYSE:RBC) CEO Sells $1,875,000.00 in Stock

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) CEO Michael J. Hartnett sold 5,000 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 311,853 shares of the company's stock, valued at $116,944,875. This represents a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

RBC Bearings Stock Performance

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

RBC Bearings (NYSE:RBC - Get Free Report) last released its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 business had revenue of $437.70 million during the quarter, compared to analyst estimates of $440.26 million. During the same quarter in the previous year, the company posted $2.47 earnings per share. RBC Bearings's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of RBC Bearings

Several hedge funds have recently bought and sold shares of RBC. NBC Securities Inc. bought a new stake in RBC Bearings during the first quarter valued at about $25,000. Advisors Asset Management Inc. bought a new stake in RBC Bearings during the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake 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 acquiring an additional 59 shares during the period. Golden State Wealth Management LLC bought a new position in shares of RBC Bearings in the fourth quarter worth about $38,000. Finally, UMB Bank n.a. boosted its stake in shares of RBC Bearings by 80.8% in 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 during the period.

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.