RBC Bearings Incorporated (NYSE:RBC) COO Sells $11,895,918.96 in Stock

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) COO Daniel A. Bergeron sold 31,282 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the transaction, the chief operating officer now owns 111,134 shares in the company, valued at $42,262,037.52. This represents a 21.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

RBC Bearings Trading Down 1.1%

RBC traded down $4.11 during trading on Thursday, reaching $371.48. The company had a trading volume of 80,700 shares, compared to its average volume of 159,147. The stock has a market cap of $11.67 billion, a P/E ratio of 51.03, a PEG ratio of 4.42 and a beta of 1.66. The business has a 50 day simple moving average of $347.76 and a 200-day simple moving average of $337.35. RBC Bearings Incorporated has a 52 week low of $260.53 and a 52 week high of $386.41. 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 released its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share 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 business had revenue of $437.70 million during the quarter, compared to the consensus estimate of $440.26 million. During the same period last year, the company earned $2.47 earnings per share. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analysts Set New Price Targets

RBC has been the subject of several analyst reports. Truist Financial increased their target price on shares of RBC Bearings from $405.00 to $431.00 and gave the stock a "buy" rating in a report on Thursday. Morgan Stanley reiterated an "overweight" rating and set a $415.00 target price (up from $390.00) on shares of RBC Bearings in a research 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 company. According to data from MarketBeat.com, RBC Bearings has a consensus rating of "Moderate Buy" and an average price target of $394.00.

Institutional Trading of RBC Bearings

Several institutional investors and hedge funds have recently made changes to their positions in the business. Yousif Capital Management LLC increased its stake in shares of RBC Bearings by 3.0% during the fourth quarter. Yousif Capital Management LLC now owns 11,017 shares of the industrial products company's stock valued at $3,296,000 after buying an additional 321 shares during the period. Robertson Stephens Wealth Management LLC increased its stake in shares of RBC Bearings by 12.6% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 838 shares of the industrial products company's stock valued at $251,000 after buying an additional 94 shares during the period. State of Alaska Department of Revenue increased its stake in shares of RBC Bearings by 5.8% during the fourth quarter. State of Alaska Department of Revenue now owns 3,565 shares of the industrial products company's stock valued at $1,066,000 after buying an additional 195 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of RBC Bearings during the fourth quarter valued at $7,785,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of RBC Bearings during the fourth quarter valued at $38,000.

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.