RBC Bearings Incorporated (NYSE:RBC) CEO Sells $919,875.00 in Stock

RBC Bearings Incorporated (NYSE:RBC) CEO Michael J. Hartnett sold 2,500 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.95, for a total transaction of $919,875.00. Following the sale, the chief executive officer now owns 320,088 shares of the company’s stock, valued at approximately $117,776,379.60. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

RBC Bearings Stock Down 0.3 %

NYSE:RBC opened at $363.34 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The firm’s 50-day moving average price is $321.18 and its 200-day moving average price is $305.42. The company has a market capitalization of $11.41 billion, a PE ratio of 49.91, a P/E/G ratio of 4.90 and a beta of 1.58. RBC Bearings Incorporated has a 1-year low of $241.43 and a 1-year high of $372.51.

Wall Street Analyst Weigh In

Several research firms have weighed in on RBC. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Morgan Stanley lifted their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. KeyCorp upped their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, Truist Financial increased their price target on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, RBC Bearings has an average rating of “Moderate Buy” and a consensus price target of $361.20.

Institutional Investors Weigh In On RBC Bearings

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DF Dent & Co. Inc. bought a new stake in shares of RBC Bearings in the 4th quarter worth approximately $23,962,000. Nicolet Advisory Services LLC raised its stake in RBC Bearings by 10.1% during the fourth quarter. Nicolet Advisory Services LLC now owns 2,656 shares of the industrial products company’s stock valued at $782,000 after buying an additional 243 shares during the last quarter. Huntington National Bank boosted its holdings in RBC Bearings by 18.3% in the fourth quarter. Huntington National Bank now owns 622 shares of the industrial products company’s stock worth $186,000 after acquiring an additional 96 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of RBC Bearings in the fourth quarter worth $222,000. Finally, Geode Capital Management LLC increased its holdings in shares of RBC Bearings by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 507,771 shares of the industrial products company’s stock valued at $151,944,000 after acquiring an additional 25,268 shares in the last quarter.

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.