RBC Bearings (NYSE:RBC) Director Dolores Ennico Sells 600 Shares of Stock

RBC Bearings Incorporated (NYSE:RBC) Director Dolores Ennico sold 600 shares of RBC Bearings stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total transaction of $381,666.00. Following the sale, the director owned 7,254 shares in the company, valued at approximately $4,614,341.94. This trade represents a 7.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

RBC Bearings Stock Performance

NYSE:RBC opened at $650.12 on Friday. RBC Bearings Incorporated has a 12-month low of $364.50 and a 12-month high of $667.69. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $20.57 billion, a PE ratio of 71.52, a price-to-earnings-growth ratio of 3.69 and a beta of 1.42. The firm has a 50-day moving average price of $596.87 and a 200 day moving average price of $546.48.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On RBC Bearings

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBC. Basecamp Wealth Advisors LLC lifted its position in shares of RBC Bearings by 49.3% during the first quarter. Basecamp Wealth Advisors LLC now owns 103 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 34 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of RBC Bearings by 23.4% in the first quarter. Pacer Advisors Inc. now owns 5,868 shares of the industrial products company’s stock valued at $3,187,000 after purchasing an additional 1,113 shares in the last quarter. NewEdge Advisors LLC raised its position in RBC Bearings by 101.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,867 shares of the industrial products company’s stock worth $1,557,000 after purchasing an additional 1,447 shares during the last quarter. Caerus Investment Advisors LLC raised its position in RBC Bearings by 6.3% in the 1st quarter. Caerus Investment Advisors LLC now owns 553 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 33 shares during the last quarter. Finally, Argent Capital Management LLC lifted its holdings in RBC Bearings by 29.6% during the 1st quarter. Argent Capital Management LLC now owns 5,921 shares of the industrial products company’s stock worth $3,216,000 after buying an additional 1,353 shares in the last quarter.

About RBC Bearings

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.