Insider Selling: RBC Bearings Incorporated (NYSE:RBC) CFO Sells $2,898,000.00 in Stock

RBC Bearings Incorporated (NYSE:RBC) CFO Robert M. Sullivan sold 8,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $362.25, for a total value of $2,898,000.00. Following the transaction, the chief financial officer now owns 11,382 shares in the company, valued at $4,123,129.50. This represents a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

RBC Bearings Stock Up 0.3 %

Shares of RBC opened at $363.80 on Friday. The company has a market capitalization of $11.43 billion, a P/E ratio of 49.97, a PEG ratio of 4.90 and a beta of 1.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings Incorporated has a one year low of $241.43 and a one year high of $372.51. The business’s 50 day simple moving average is $322.33 and its 200-day simple moving average is $306.43.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. 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. William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. 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, February 4th. Truist Financial lifted their price objective on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Bank of America downgraded RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.20.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. raised 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 valued at $28,000 after acquiring an additional 75 shares during the last quarter. R Squared Ltd bought a new stake in shares of RBC Bearings during the 4th quarter valued at $30,000. Golden State Wealth Management LLC bought a new stake in shares of RBC Bearings during the 4th quarter valued at $38,000. Harbor Investment Advisory LLC bought a new stake in shares of RBC Bearings during the 4th quarter valued at $82,000. Finally, Blue Trust Inc. raised its position in shares of RBC Bearings by 541.9% during the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 233 shares during 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.