RBC Bearings (NYSE:RBC) VP Sells 225 Shares of Stock

RBC Bearings Incorporated (NYSE:RBC) VP John Feeney sold 225 shares of RBC Bearings stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $657.94, for a total value of $148,036.50. Following the transaction, the vice president owned 2,378 shares in the company, valued at approximately $1,564,581.32. This represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

RBC Bearings Trading Up 1.7%

Shares of RBC stock traded up $11.18 on Thursday, hitting $650.12. 236,095 shares of the stock traded hands, compared to its average volume of 223,163. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18. RBC Bearings Incorporated has a twelve month low of $364.50 and a twelve month high of $667.69. The firm’s 50-day moving average price is $595.84 and its two-hundred day moving average price is $545.02. The stock has a market capitalization of $20.57 billion, a PE ratio of 71.52, a PEG ratio of 3.66 and a beta of 1.42.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.31. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. The firm had revenue of $518.00 million during the quarter, compared to analysts’ expectations of $505.90 million. During the same period last year, the business earned $2.83 earnings per share. RBC Bearings’s revenue was up 18.3% compared to the same quarter last year. As a group, analysts anticipate that RBC Bearings Incorporated will post 13.58 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on RBC. Wall Street Zen raised shares of RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Morgan Stanley increased their price objective on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Truist Financial restated a “buy” rating and issued a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Finally, Weiss Ratings lowered RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $584.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new stake in shares of RBC Bearings in the first quarter valued at $26,000. Western Wealth Management LLC acquired a new position in RBC Bearings during the 1st quarter worth about $27,000. SBI Securities Co. Ltd. lifted its stake in RBC Bearings by 106.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 33 shares in the last quarter. Larson Financial Group LLC boosted its holdings in RBC Bearings by 148.5% during the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 49 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in RBC Bearings in the 4th quarter valued at about $35,000.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.