Insider Selling: RBC Bearings Incorporated (NYSE:RBC) VP Sells 880 Shares of Stock

RBC Bearings Incorporated (NYSE:RBCGet Free Report) VP Richard J. Edwards sold 880 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $239.74, for a total value of $210,971.20. Following the sale, the vice president now owns 12,220 shares of the company’s stock, valued at approximately $2,929,622.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

RBC Bearings Stock Up 0.9 %

RBC Bearings stock opened at $240.20 on Friday. RBC Bearings Incorporated has a 52 week low of $195.18 and a 52 week high of $256.29. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 44.73, a price-to-earnings-growth ratio of 4.95 and a beta of 1.41. The business’s 50-day moving average price is $226.12 and its 200 day moving average price is $221.53. The company has a quick ratio of 1.05, a current ratio of 2.96 and a debt-to-equity ratio of 0.52.

RBC Bearings (NYSE:RBCGet Free Report) last posted its earnings results on Friday, August 4th. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.11. RBC Bearings had a net margin of 11.93% and a return on equity of 9.51%. The firm had revenue of $387.12 million during the quarter, compared to analysts’ expectations of $390.72 million. As a group, sell-side analysts anticipate that RBC Bearings Incorporated will post 8.2 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Truist Financial upped their target price on RBC Bearings from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, August 7th. Alembic Global Advisors upgraded shares of RBC Bearings from a “neutral” rating to an “overweight” rating and set a $267.00 price target on the stock in a research note on Wednesday, August 9th. Wells Fargo & Company raised their price target on shares of RBC Bearings from $225.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. Royal Bank of Canada raised shares of RBC Bearings from a “neutral” rating to an “overweight” rating in a report on Wednesday, August 9th. Finally, Morgan Stanley raised their target price on RBC Bearings from $286.00 to $294.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $264.20.

Read Our Latest Research Report on RBC Bearings

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. raised its stake in RBC Bearings by 16.1% in the 1st quarter. American Century Companies Inc. now owns 2,786 shares of the industrial products company’s stock valued at $540,000 after purchasing an additional 387 shares during the last quarter. HighTower Advisors LLC lifted its stake in RBC Bearings by 6.8% in the 1st quarter. HighTower Advisors LLC now owns 7,920 shares of the industrial products company’s stock worth $1,545,000 after purchasing an additional 501 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of RBC Bearings by 12.8% during the 1st quarter. Private Advisor Group LLC now owns 3,303 shares of the industrial products company’s stock worth $641,000 after purchasing an additional 375 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of RBC Bearings by 53.4% in the first quarter. MetLife Investment Management LLC now owns 14,826 shares of the industrial products company’s stock valued at $2,874,000 after purchasing an additional 5,159 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in RBC Bearings by 1.6% during the first quarter. BlackRock Inc. now owns 2,145,334 shares of the industrial products company’s stock worth $415,937,000 after buying an additional 33,956 shares during the last quarter.

RBC Bearings Company Profile

(Get Free Report)

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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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