Insider Selling: RBC Bearings Incorporated (NYSE:RBC) Director Sells 400 Shares of Stock

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) Director Steven H. Kaplan sold 400 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $381.30, for a total transaction of $152,520.00. Following the completion of the transaction, the director now owns 2,499 shares of the company's stock, valued at approximately $952,868.70. This trade represents a 13.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

RBC Bearings Stock Performance

Shares of NYSE RBC traded down $4.11 during trading hours on Thursday, reaching $371.48. The stock had a trading volume of 80,700 shares, compared to its average volume of 159,147. The firm 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 $11.67 billion, a price-to-earnings ratio of 51.03, a PEG ratio of 4.42 and a beta of 1.66. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a fifty-two week low of $260.53 and a fifty-two week high of $386.41.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.13. The business had revenue of $437.70 million during 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 company's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.47 earnings per share. Equities research analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Institutional Trading of RBC Bearings

Large investors have recently bought and sold shares of the business. Deutsche Bank AG raised its holdings in shares of RBC Bearings by 2.9% in the fourth quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock valued at $529,000 after buying an additional 49 shares during the last quarter. Bank of New York Mellon Corp increased its position in RBC Bearings by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company's stock valued at $59,581,000 after acquiring an additional 1,103 shares during the period. Allspring Global Investments Holdings LLC raised its stake in RBC Bearings by 39.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company's stock valued at $66,247,000 after acquiring an additional 62,706 shares during the last quarter. Callan Family Office LLC lifted its position in RBC Bearings by 251.7% during the 4th quarter. Callan Family Office LLC now owns 2,416 shares of the industrial products company's stock worth $723,000 after acquiring an additional 1,729 shares during the period. Finally, Advantage Alpha Capital Partners LP lifted its position in RBC Bearings by 35.3% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 18,514 shares of the industrial products company's stock worth $5,545,000 after acquiring an additional 4,835 shares during the period.

Analysts Set New Price Targets

A number of brokerages have commented on RBC. Truist Financial increased their price objective on shares of RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a research report on Thursday. Morgan Stanley restated an "overweight" rating and issued a $415.00 price target (up from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $394.00.

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.