John Feeney Sells 225 Shares of RBC Bearings (NYSE:RBC) Stock

RBC Bearings Incorporated (NYSE:RBC) VP John Feeney sold 225 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total transaction of $148,036.50. Following the completion of the transaction, the vice president owned 2,378 shares of the company’s stock, valued at approximately $1,564,581.32. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

RBC Bearings Stock Performance

RBC stock traded up $11.18 during midday trading on Thursday, hitting $650.12. 236,095 shares of the stock traded hands, compared to its average volume of 223,163. The firm has a market cap of $20.57 billion, a P/E ratio of 71.52, a PEG ratio of 3.66 and a beta of 1.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 0.78. The stock’s fifty day simple moving average is $595.84 and its 200-day simple moving average is $545.02. RBC Bearings Incorporated has a 1-year low of $364.50 and a 1-year high of $667.69.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, May 15th. The industrial products company reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.31. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. The business had revenue of $518.00 million during the quarter, compared to the consensus estimate of $505.90 million. During the same quarter in the prior year, the firm posted $2.83 earnings per share. The company’s revenue was up 18.3% compared to the same quarter last year. On average, analysts expect that RBC Bearings Incorporated will post 13.58 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RBC shares. Truist Financial reaffirmed a “buy” rating and set a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. KeyCorp lifted their target price on shares of RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Wall Street Zen raised shares of RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, Morgan Stanley raised their price target on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $584.00.

Institutional Trading of RBC Bearings

A number of hedge funds have recently bought and sold shares of the business. Basecamp Wealth Advisors LLC boosted its holdings in shares of RBC Bearings by 49.3% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 103 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 34 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of RBC Bearings by 23.4% in the first quarter. Pacer Advisors Inc. now owns 5,868 shares of the industrial products company’s stock valued at $3,187,000 after purchasing an additional 1,113 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of RBC Bearings by 101.9% in the first quarter. NewEdge Advisors LLC now owns 2,867 shares of the industrial products company’s stock valued at $1,557,000 after purchasing an additional 1,447 shares during the last quarter. Caerus Investment Advisors LLC lifted its position in RBC Bearings by 6.3% during the first quarter. Caerus Investment Advisors LLC now owns 553 shares of the industrial products company’s stock worth $300,000 after buying an additional 33 shares in the last quarter. Finally, Argent Capital Management LLC lifted its position in RBC Bearings by 29.6% during the first quarter. Argent Capital Management LLC now owns 5,921 shares of the industrial products company’s stock worth $3,216,000 after buying an additional 1,353 shares in the last quarter.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.