Michael J. Hartnett Sells 11,341 Shares of RBC Bearings Incorporated (NYSE:RBC) Stock

RBC Bearings Incorporated (NYSE:RBC) CEO Michael J. Hartnett sold 11,341 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $287.52, for a total transaction of $3,260,764.32. Following the completion of the sale, the chief executive officer now directly owns 320,053 shares in the company, valued at approximately $92,021,638.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

RBC Bearings Trading Up 1.3 %

NYSE:RBC opened at $290.50 on Wednesday. RBC Bearings Incorporated has a one year low of $214.14 and a one year high of $309.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.01 and a quick ratio of 1.09. The company’s 50-day simple moving average is $287.47 and its 200 day simple moving average is $275.32. The firm has a market capitalization of $8.49 billion, a P/E ratio of 45.39, a PEG ratio of 3.49 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.21 by $0.33. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. The business had revenue of $406.30 million for the quarter, compared to analyst estimates of $416.65 million. During the same quarter in the previous year, the firm posted $1.98 earnings per share. RBC Bearings’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, analysts forecast that RBC Bearings Incorporated will post 8.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RBC. Private Advisor Group LLC raised its holdings in RBC Bearings by 27.6% in the fourth quarter. Private Advisor Group LLC now owns 1,252 shares of the industrial products company’s stock worth $357,000 after buying an additional 271 shares during the last quarter. Principal Securities Inc. purchased a new position in RBC Bearings in the fourth quarter worth about $30,000. Dimensional Fund Advisors LP raised its holdings in shares of RBC Bearings by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 293,061 shares of the industrial products company’s stock valued at $83,492,000 after purchasing an additional 21,766 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of RBC Bearings by 151.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 2,869 shares of the industrial products company’s stock valued at $817,000 after purchasing an additional 1,730 shares during the last quarter. Finally, Level Four Advisory Services LLC purchased a new position in shares of RBC Bearings during the fourth quarter valued at approximately $398,000.

Analysts Set New Price Targets

RBC has been the topic of a number of research reports. Raymond James initiated coverage on shares of RBC Bearings in a research note on Friday, June 28th. They set a “market perform” rating on the stock. William Blair initiated coverage on shares of RBC Bearings in a research note on Wednesday, May 29th. They set an “outperform” rating on the stock. Truist Financial cut their target price on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. The Goldman Sachs Group lifted their target price on shares of RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Finally, Morgan Stanley lifted their target price on shares of RBC Bearings from $310.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $287.67.

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.