Daniel A. Bergeron Sells 3,718 Shares of RBC Bearings Incorporated (NYSE:RBC) Stock

RBC Bearings Incorporated (NYSE:RBC) COO Daniel A. Bergeron sold 3,718 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $382.21, for a total transaction of $1,421,056.78. Following the sale, the chief operating officer now directly owns 111,134 shares of the company’s stock, valued at $42,476,526.14. This represents a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

RBC Bearings Stock Down 0.9%

Shares of NYSE RBC opened at $377.91 on Wednesday. The company has a 50 day simple moving average of $346.43 and a 200 day simple moving average of $337.09. The firm has a market cap of $11.87 billion, a PE ratio of 51.91, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. RBC Bearings Incorporated has a 1 year low of $260.53 and a 1 year high of $386.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RBC shares. Truist Financial reissued a “buy” rating and issued a $405.00 target price (up previously from $375.00) on shares of RBC Bearings in a report on Monday, May 19th. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $387.50.

Institutional Trading of RBC Bearings

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in RBC Bearings by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company’s stock valued at $879,149,000 after purchasing an additional 229,466 shares during the period. Durable Capital Partners LP increased its position in RBC Bearings by 1.9% during the 4th quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company’s stock valued at $787,141,000 after purchasing an additional 48,287 shares during the period. T. Rowe Price Investment Management Inc. increased its position in RBC Bearings by 0.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,097,321 shares of the industrial products company’s stock valued at $328,253,000 after purchasing an additional 2,884 shares during the period. Geneva Capital Management LLC increased its position in RBC Bearings by 1.0% during the 1st quarter. Geneva Capital Management LLC now owns 589,418 shares of the industrial products company’s stock valued at $189,657,000 after purchasing an additional 5,753 shares during the period. Finally, Ameriprise Financial Inc. increased its position in RBC Bearings by 2.0% during the 1st quarter. Ameriprise Financial Inc. now owns 545,412 shares of the industrial products company’s stock valued at $175,515,000 after purchasing an additional 10,531 shares during the period.

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.