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

RBC Bearings Incorporated (NYSE:RBC) Director Dolores Ennico sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $636.11, for a total transaction of $381,666.00. Following the completion of the transaction, the director owned 7,254 shares of the company’s stock, valued at $4,614,341.94. This trade represents a 7.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

RBC Bearings Stock Down 2.9%

NYSE:RBC opened at $630.07 on Friday. The company has a market cap of $19.94 billion, a price-to-earnings ratio of 69.31, a P/E/G ratio of 3.64 and a beta of 1.42. 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’s fifty day moving average price is $597.75 and its two-hundred day moving average price is $547.06. RBC Bearings Incorporated has a 52-week low of $364.50 and a 52-week high of $667.69.

RBC Bearings (NYSE:RBC) last released its 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. The company had revenue of $518.00 million during the quarter, compared to analysts’ expectations of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period last year, the firm earned $2.83 EPS. On average, analysts anticipate that RBC Bearings Incorporated will post 13.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings cut shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Morgan Stanley raised their price objective on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Finally, Truist Financial reaffirmed a “buy” rating and set a $615.00 target price (up from $599.00) on shares of RBC Bearings in a report on Tuesday, May 19th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, RBC Bearings presently has a consensus rating of “Moderate Buy” and an average target price of $584.00.

Hedge Funds Weigh In On RBC Bearings

Several institutional investors have recently modified their holdings of the stock. Basecamp Wealth Advisors LLC increased its stake in shares of RBC Bearings by 49.3% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 103 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 34 shares during the last quarter. Pacer Advisors Inc. grew its holdings in RBC Bearings by 23.4% during the first quarter. Pacer Advisors Inc. now owns 5,868 shares of the industrial products company’s stock valued at $3,187,000 after purchasing an additional 1,113 shares during the period. NewEdge Advisors LLC grew its holdings in RBC Bearings by 101.9% during the first quarter. NewEdge Advisors LLC now owns 2,867 shares of the industrial products company’s stock valued at $1,557,000 after purchasing an additional 1,447 shares during the period. Caerus Investment Advisors LLC increased its stake in RBC Bearings by 6.3% in the first quarter. Caerus Investment Advisors LLC now owns 553 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 33 shares in the last quarter. Finally, Argent Capital Management LLC raised its holdings in RBC Bearings by 29.6% in the first quarter. Argent Capital Management LLC now owns 5,921 shares of the industrial products company’s stock worth $3,216,000 after purchasing an additional 1,353 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.