RBC Bearings Incorporated (NYSE:RBC) CEO Michael J. Hartnett Sells 19,283 Shares

RBC Bearings Incorporated (NYSE:RBC) CEO Michael J. Hartnett sold 19,283 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $289.42, for a total transaction of $5,580,885.86. Following the completion of the transaction, the chief executive officer now directly owns 317,814 shares in the company, valued at approximately $91,981,727.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

RBC Bearings Price Performance

Shares of RBC Bearings stock opened at $290.50 on Wednesday. The firm has a market cap of $8.49 billion, a PE ratio of 45.39, a price-to-earnings-growth ratio of 3.49 and a beta of 1.51. RBC Bearings Incorporated has a 12-month low of $214.14 and a 12-month high of $309.01. The company has a quick ratio of 1.09, a current ratio of 3.01 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $287.47 and its two-hundred day simple moving average is $275.32.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.33. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. The business had revenue of $406.30 million for the quarter, compared to analyst estimates of $416.65 million. During the same quarter last year, the firm earned $1.98 EPS. The company’s revenue was up 5.0% on a year-over-year basis. As a group, equities analysts expect that RBC Bearings Incorporated will post 8.85 EPS for the current year.

Analyst Upgrades and Downgrades

RBC has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price target on shares of RBC Bearings from $245.00 to $276.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Truist Financial decreased their price target 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 started coverage on shares of RBC Bearings in a report on Friday, June 28th. They set a “market perform” rating on the stock. Morgan Stanley increased their target price on shares of RBC Bearings from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Finally, William Blair started coverage on shares of RBC Bearings in a report on Wednesday, May 29th. They set an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, RBC Bearings has an average rating of “Moderate Buy” and a consensus price target of $287.67.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RBC. Private Advisor Group LLC increased its stake in RBC Bearings by 27.6% during the 4th quarter. Private Advisor Group LLC now owns 1,252 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 271 shares in the last quarter. Principal Securities Inc. bought a new stake in RBC Bearings during the 4th quarter valued at about $30,000. Dimensional Fund Advisors LP increased its stake in RBC Bearings by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 293,061 shares of the industrial products company’s stock valued at $83,492,000 after purchasing an additional 21,766 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in RBC Bearings by 151.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 2,869 shares of the industrial products company’s stock valued at $817,000 after purchasing an additional 1,730 shares in the last quarter. Finally, Level Four Advisory Services LLC bought a new stake in RBC Bearings during the 4th quarter valued at about $398,000.

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.