Insider Selling: RBC Bearings (NYSE:RBC) Director Sells $355,698.00 in Stock

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

RBC Bearings Trading Up 0.2%

Shares of RBC stock opened at $591.56 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18. RBC Bearings Incorporated has a 1 year low of $363.05 and a 1 year high of $632.00. The stock has a fifty day moving average of $580.62 and a two-hundred day moving average of $528.44. The firm has a market capitalization of $18.72 billion, a PE ratio of 65.08, a price-to-earnings-growth ratio of 3.41 and a beta of 1.42.

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. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The company had revenue of $518.00 million during the quarter, compared to analyst estimates of $505.90 million. During the same quarter in the previous year, the firm posted $2.83 EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. As a group, research analysts expect that RBC Bearings Incorporated will post 13.58 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of RBC Bearings during the fourth quarter valued at approximately $175,909,000. Artisan Partners Limited Partnership raised its stake in RBC Bearings by 51.7% during the third quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock worth $241,821,000 after acquiring an additional 211,093 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in RBC Bearings by 39,846.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 185,749 shares of the industrial products company’s stock worth $83,295,000 after acquiring an additional 185,284 shares in the last quarter. Cartenna Capital LP bought a new position in RBC Bearings during the 4th quarter valued at about $76,233,000. Finally, Invesco Ltd. lifted its holdings in RBC Bearings by 60.5% during the 3rd quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock valued at $148,763,000 after purchasing an additional 143,710 shares during the last quarter.

Analyst Ratings Changes

RBC has been the subject of several recent analyst reports. Truist Financial restated a “buy” rating and set a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. KeyCorp upped their target price on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Wall Street Zen upgraded RBC Bearings from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings raised shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $584.00.

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.