RBC Bearings Incorporated (NYSE:RBC) Director Sells $145,156.00 in Stock

RBC Bearings Incorporated (NYSE:RBC) Director Michael H. Ambrose sold 400 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the completion of the sale, the director now directly owns 6,728 shares in the company, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

RBC Bearings Stock Performance

NYSE:RBC opened at $361.80 on Friday. The firm has a market capitalization of $11.36 billion, a PE ratio of 49.70, a price-to-earnings-growth ratio of 4.81 and a beta of 1.58. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The stock’s 50-day simple moving average is $319.68 and its 200 day simple moving average is $303.74. RBC Bearings Incorporated has a twelve month low of $240.36 and a twelve month high of $372.51.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RBC. UMB Bank n.a. boosted its position in shares of RBC Bearings by 416.7% during the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. R Squared Ltd purchased a new position in RBC Bearings during the fourth quarter worth about $30,000. Golden State Wealth Management LLC bought a new stake in RBC Bearings during the fourth quarter worth $38,000. Harbor Investment Advisory LLC bought a new position in RBC Bearings during the fourth quarter valued at about $82,000. Finally, Blue Trust Inc. grew its holdings in RBC Bearings by 541.9% during the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 233 shares during the period.

Analysts Set New Price Targets

RBC has been the subject of a number of recent research reports. Truist Financial increased their target price on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. KeyCorp boosted their price target on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Finally, Morgan Stanley boosted their price target on RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $348.50.

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.