Insider Selling: RBC Bearings Incorporated (NYSE:RBC) VP Sells $1,229,214.00 in Stock

RBC Bearings Incorporated (NYSE:RBC) VP Richard J. Edwards sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total value of $1,229,214.00. Following the sale, the vice president now directly owns 12,539 shares of the company’s stock, valued at $3,669,789.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

RBC Bearings Trading Up 1.2 %

Shares of RBC opened at $297.17 on Friday. The firm’s 50-day moving average is $283.90 and its two-hundred day moving average is $273.87. RBC Bearings Incorporated has a twelve month low of $214.14 and a twelve month high of $309.01. The company has a current ratio of 3.01, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $8.60 billion, a P/E ratio of 46.43, a PEG ratio of 3.48 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.33. The firm had revenue of $406.30 million during the quarter, compared to the consensus estimate of $416.65 million. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. RBC Bearings’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $1.98 EPS. On average, research analysts predict that RBC Bearings Incorporated will post 8.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in RBC Bearings by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,778 shares of the industrial products company’s stock worth $1,646,000 after acquiring an additional 50 shares during the last quarter. Legacy Advisors LLC raised its position in shares of RBC Bearings by 1.4% during the 2nd quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company’s stock worth $1,223,000 after purchasing an additional 61 shares during the last quarter. Torray Investment Partners LLC lifted its stake in RBC Bearings by 0.9% in the 4th quarter. Torray Investment Partners LLC now owns 7,446 shares of the industrial products company’s stock valued at $2,121,000 after buying an additional 69 shares in the last quarter. RiverPark Advisors LLC grew its holdings in RBC Bearings by 9.6% during the 2nd quarter. RiverPark Advisors LLC now owns 993 shares of the industrial products company’s stock valued at $268,000 after buying an additional 87 shares during the last quarter. Finally, 1832 Asset Management L.P. purchased a new position in RBC Bearings during the fourth quarter worth $27,000.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RBC shares. The Goldman Sachs Group boosted their target price on RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Morgan Stanley upped their price objective on shares of RBC Bearings from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Truist Financial lowered their target price on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Raymond James assumed coverage on shares of RBC Bearings in a report on Friday, June 28th. They set a “market perform” rating for the company. Finally, William Blair began coverage on RBC Bearings in a report on Wednesday, May 29th. They issued an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.67.

RBC Bearings Company Profile

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.