RBC Bearings (NYSE:RBC) Director Edward Stewart Sells 600 Shares

RBC Bearings Incorporated (NYSE:RBC) Director Edward Stewart sold 600 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total value of $355,698.00. Following the transaction, the director directly owned 21,337 shares of the company’s stock, valued at $12,649,213.71. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

RBC Bearings Stock Down 0.0%

NYSE RBC traded down $0.12 during trading hours on Friday, hitting $589.64. 166,085 shares of the company traded hands, compared to its average volume of 213,851. The business’s 50-day moving average is $580.01 and its 200-day moving average is $527.30. RBC Bearings Incorporated has a twelve month low of $363.05 and a twelve month high of $632.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18. The stock has a market capitalization of $18.65 billion, a price-to-earnings ratio of 64.85, a P/E/G ratio of 3.38 and a beta of 1.42.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating the consensus estimate of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm had revenue of $518.00 million during the quarter, compared to analysts’ expectations of $505.90 million. During the same period in the prior year, the firm posted $2.83 earnings per share. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. Sell-side analysts anticipate that RBC Bearings Incorporated will post 13.58 earnings per share for the current year.

Analysts Set New Price Targets

RBC has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Weiss Ratings raised RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Finally, KeyCorp lifted their price target on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $584.00.

Hedge Funds Weigh In On RBC Bearings

Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank grew its position in RBC Bearings by 19.5% during the 4th quarter. Comerica Bank now owns 90,283 shares of the industrial products company’s stock worth $40,486,000 after acquiring an additional 14,747 shares during the last quarter. Principal Financial Group Inc. grew its position in RBC Bearings by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 111,443 shares of the industrial products company’s stock worth $43,495,000 after acquiring an additional 4,776 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in RBC Bearings by 263.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,737 shares of the industrial products company’s stock worth $1,788,000 after acquiring an additional 2,709 shares during the last quarter. Faithward Advisors LLC bought a new stake in RBC Bearings during the 3rd quarter worth $2,826,000. Finally, Flagship Harbor Advisors LLC bought a new stake in RBC Bearings during the 3rd quarter worth $374,000.

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.