RBC Bearings Incorporated (NYSE:RBC) CEO Michael J. Hartnett Sells 2,500 Shares of Stock

RBC Bearings Incorporated (NYSE:RBC) CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total value of $919,875.00. Following the sale, the chief executive officer now directly owns 320,088 shares in the company, valued at approximately $117,776,379.60. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

RBC Bearings Stock Up 0.2 %

NYSE:RBC opened at $362.93 on Tuesday. The firm has a 50-day simple moving average of $320.23 and a two-hundred day simple moving average of $304.50. The firm has a market cap of $11.40 billion, a P/E ratio of 49.85, a P/E/G ratio of 4.90 and a beta of 1.58. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week high of $372.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43.

Hedge Funds Weigh In On RBC Bearings

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBC. UMB Bank n.a. increased its holdings in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. R Squared Ltd purchased a new stake in shares of RBC Bearings during the fourth quarter valued at $30,000. Golden State Wealth Management LLC bought a new stake in RBC Bearings in the 4th quarter worth about $38,000. Harbor Investment Advisory LLC purchased a new position in RBC Bearings in the 4th quarter worth about $82,000. Finally, Blue Trust Inc. lifted its stake in 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 period.

Analyst Ratings Changes

Several brokerages recently weighed in on RBC. KeyCorp upped their price target on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price target for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. Morgan Stanley raised their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Truist Financial boosted their price target on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $348.50.

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.