Insider Selling: RBC Bearings (NYSE:RBC) Director Sells $381,666.00 in Stock

RBC Bearings Incorporated (NYSE:RBC) Director Dolores Ennico sold 600 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $636.11, for a total transaction of $381,666.00. Following the transaction, the director owned 7,254 shares in the company, valued at $4,614,341.94. The trade was a 7.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

RBC Bearings Price Performance

Shares of RBC stock traded up $11.18 during midday trading on Thursday, reaching $650.12. 236,094 shares of the company traded hands, compared to its average volume of 223,162. The firm’s 50 day simple moving average is $595.84 and its two-hundred day simple moving average is $545.02. RBC Bearings Incorporated has a 1-year low of $364.50 and a 1-year high of $667.69. 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 firm has a market cap of $20.57 billion, a PE ratio of 71.52, a price-to-earnings-growth ratio of 3.66 and a beta of 1.42.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RBC shares. Truist Financial restated a “buy” rating and issued a $615.00 price target (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. KeyCorp increased their price objective on shares of RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Weiss Ratings downgraded shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Wall Street Zen upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, RBC Bearings presently has a consensus rating of “Moderate Buy” and a consensus price target of $584.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RBC. Ritholtz Wealth Management grew its holdings in shares of RBC Bearings by 2.9% during the first quarter. Ritholtz Wealth Management now owns 594 shares of the industrial products company’s stock worth $323,000 after buying an additional 17 shares in the last quarter. Assetmark Inc. lifted its stake in shares of RBC Bearings by 3.5% during the first quarter. Assetmark Inc. now owns 557 shares of the industrial products company’s stock valued at $303,000 after buying an additional 19 shares during the period. Lido Advisors LLC boosted its position in RBC Bearings by 3.5% during the fourth quarter. Lido Advisors LLC now owns 647 shares of the industrial products company’s stock worth $278,000 after acquiring an additional 22 shares during the last quarter. UMB Bank n.a. grew its stake in RBC Bearings by 7.1% in the 4th quarter. UMB Bank n.a. now owns 348 shares of the industrial products company’s stock worth $156,000 after acquiring an additional 23 shares during the period. Finally, Millstone Evans Group LLC grew its stake in RBC Bearings by 45.3% in the 1st quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 24 shares during the period.

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.