Insider Selling: RBC Bearings Incorporated (NYSE:RBC) COO Sells 3,718 Shares of Stock

RBC Bearings Incorporated (NYSE:RBC) COO Daniel A. Bergeron sold 3,718 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $382.21, for a total transaction of $1,421,056.78. Following the sale, the chief operating officer now owns 111,134 shares in the company, valued at $42,476,526.14. This represents a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

RBC Bearings Stock Down 0.0%

Shares of RBC Bearings stock traded down $0.09 during trading on Monday, hitting $381.21. 187,125 shares of the stock traded hands, compared to its average volume of 159,536. The stock has a market cap of $11.97 billion, a P/E ratio of 52.36, a PEG ratio of 4.42 and a beta of 1.66. The company has a fifty day moving average price of $344.33 and a two-hundred day moving average price of $336.49. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month high of $403.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43.

RBC Bearings (NYSE:RBC) last posted its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.13. RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. The firm had revenue of $437.70 million during the quarter, compared to analysts’ expectations of $440.26 million. During the same period in the previous year, the company earned $2.47 earnings per share. The company’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analysts Set New Price Targets

RBC has been the topic of several recent analyst reports. Truist Financial reissued a “buy” rating and set a $405.00 target price (up from $375.00) on shares of RBC Bearings in a research note on Monday, May 19th. Morgan Stanley restated an “overweight” rating and set a $415.00 price target (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $387.50.

Hedge Funds Weigh In On RBC Bearings

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

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.