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

RBC Bearings Incorporated (NYSE:RBC) VP John Feeney sold 225 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,564,581.32. This represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

RBC Bearings Stock Up 1.7%

RBC opened at $650.12 on Friday. The stock’s 50 day moving average price is $596.87 and its 200 day moving average price is $546.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 0.78. The stock has a market cap of $20.57 billion, a P/E ratio of 71.52, a P/E/G ratio of 3.69 and a beta of 1.42. RBC Bearings Incorporated has a 12 month low of $364.50 and a 12 month high of $667.69.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.31. The company had revenue of $518.00 million during the quarter, compared to analyst estimates of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.83 EPS. As a group, research analysts predict that RBC Bearings Incorporated will post 13.58 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RBC. Western Wealth Management LLC acquired a new stake in shares of RBC Bearings during the 1st quarter valued at $27,000. SBI Securities Co. Ltd. lifted its holdings in shares of RBC Bearings by 106.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 33 shares during the last quarter. Millstone Evans Group LLC lifted its holdings in shares of RBC Bearings by 45.3% during the first quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 24 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of RBC Bearings in the 4th quarter valued at $35,000. Finally, Advisors Asset Management Inc. purchased a new position in RBC Bearings in the 1st quarter worth about $26,000.

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.