RBC Bearings Incorporated (NYSE:RBC) CEO Sells $10,184,630.25 in Stock

RBC Bearings Incorporated (NYSE:RBCGet Free Report) CEO Michael J. Hartnett sold 26,725 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $381.09, for a total value of $10,184,630.25. Following the completion of the transaction, the chief executive officer now owns 316,853 shares in the company, valued at approximately $120,749,509.77. The trade was a 7.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

RBC Bearings Trading Down 0.6%

Shares of RBC stock opened at $369.67 on Friday. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month high of $386.41. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $350.35 and its two-hundred day moving average is $337.78. The company has a market capitalization of $11.61 billion, a P/E ratio of 50.78, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66.

RBC Bearings (NYSE:RBCGet Free Report) last announced its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.13. The company had revenue of $437.70 million during the quarter, compared to the consensus estimate of $440.26 million. RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. RBC Bearings’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.47 EPS. Equities analysts forecast that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Institutional Investors Weigh In On RBC Bearings

A number of institutional investors have recently added to or reduced their stakes in RBC. NBC Securities Inc. purchased a new position in shares of RBC Bearings in the 1st quarter valued at about $25,000. Advisors Asset Management Inc. purchased a new position in RBC Bearings in the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of RBC Bearings by 109.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 59 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of RBC Bearings during the 4th quarter worth approximately $38,000. Finally, UMB Bank n.a. grew its holdings in shares of RBC Bearings by 80.8% in the 1st quarter. UMB Bank n.a. now owns 311 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 139 shares during the period.

Analysts Set New Price Targets

A number of research firms recently commented on RBC. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 target price (up from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Truist Financial increased their price objective on RBC Bearings from $405.00 to $431.00 and gave the company a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, RBC Bearings presently has a consensus rating of “Moderate Buy” and an average price target of $394.00.

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RBC Bearings Company Profile

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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.

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Insider Buying and Selling by Quarter for RBC Bearings (NYSE:RBC)

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