Daniel A. Bergeron Sells 31,282 Shares of RBC Bearings Incorporated (NYSE:RBC) Stock

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) COO Daniel A. Bergeron sold 31,282 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $380.28, for a total value of $11,895,918.96. Following the completion of the transaction, the chief operating officer now owns 111,134 shares of the company's stock, valued at $42,262,037.52. The trade was a 21.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

RBC Bearings Price Performance

Shares of RBC traded down $1.50 during midday trading on Wednesday, reaching $375.35. The stock had a trading volume of 158,091 shares, compared to its average volume of 159,461. RBC Bearings Incorporated has a 52 week low of $260.53 and a 52 week high of $386.41. The company has a market capitalization of $11.79 billion, a P/E ratio of 51.56, a P/E/G ratio of 4.42 and a beta of 1.66. The firm's 50 day moving average price is $347.76 and its 200-day moving average price is $337.35. 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 issued its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts' consensus estimates of $2.70 by $0.13. The company had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.26 million. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.47 EPS. On average, analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RBC Bearings

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio bought a new stake in shares of RBC Bearings in the 1st quarter valued at $1,632,000. Advisors Capital Management LLC grew its holdings in RBC Bearings by 5.4% during the first quarter. Advisors Capital Management LLC now owns 29,391 shares of the industrial products company's stock worth $9,457,000 after purchasing an additional 1,497 shares during the period. Jane Street Group LLC grew its holdings in RBC Bearings by 198.2% during the first 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of RBC Bearings by 1.4% during 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 buying an additional 923 shares during the last quarter. Finally, United Services Automobile Association acquired a new position in shares of RBC Bearings in the first quarter valued at approximately $635,000.

Analysts Set New Price Targets

A number of analysts have recently commented on RBC shares. Truist Financial reiterated a "buy" rating and set a $405.00 target price (up previously from $375.00) on shares of RBC Bearings in a research report on Monday, May 19th. Morgan Stanley reaffirmed an "overweight" rating and issued a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $387.50.

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.