RBC Bearings Incorporated (NYSE:RBC) Director Sells $218,555.40 in Stock

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) Director Michael H. Ambrose sold 595 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $367.32, for a total value of $218,555.40. Following the sale, the director now directly owns 6,985 shares of the company's stock, valued at approximately $2,565,730.20. This trade represents a 7.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

RBC Bearings Trading Up 1.3%

Shares of NYSE RBC opened at $371.88 on Friday. The company has a current ratio of 3.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $11.68 billion, a PE ratio of 48.48, a PEG ratio of 3.80 and a beta of 1.66. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month high of $386.41. The stock has a fifty day simple moving average of $354.01 and a 200-day simple moving average of $338.68.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.13. The company had revenue of $437.70 million during the quarter, compared to analysts' expectations of $440.26 million. RBC Bearings had a return on equity of 10.08% and a net margin of 15.05%. RBC Bearings's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business posted $2.47 EPS. On average, equities analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

RBC has been the subject of a number of recent analyst reports. Morgan Stanley reissued an "overweight" rating and set a $415.00 price objective (up from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Truist Financial lifted their price target on shares of RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $394.00.

Institutional Investors Weigh In On RBC Bearings

Several large investors have recently added to or reduced their stakes in RBC. Norges Bank acquired a new position in shares of RBC Bearings in the fourth quarter worth $88,184,000. Raymond James Financial Inc. acquired a new position in RBC Bearings during the 4th quarter worth $71,324,000. Vanguard Group Inc. grew its stake in RBC Bearings by 8.5% during the 4th 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 in the last quarter. GAMMA Investing LLC increased its holdings in RBC Bearings by 38,860.9% during the 1st quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company's stock worth $64,813,000 after purchasing an additional 200,911 shares during the period. Finally, Ameriprise Financial Inc. raised its position in RBC Bearings by 32.6% in the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock valued at $159,998,000 after purchasing an additional 131,614 shares in the last quarter.

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.

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