Daniel A. Bergeron Sells 31,282 Shares of RBC Bearings Incorporated (NYSE:RBC) Stock

RBC Bearings Incorporated (NYSE:RBC) COO Daniel A. Bergeron sold 31,282 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $380.28, for a total value of $11,895,918.96. Following the sale, the chief operating officer now owns 111,134 shares of the company’s stock, valued at approximately $42,262,037.52. The trade was a 21.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

RBC Bearings Trading Down 0.9%

RBC opened at $377.91 on Wednesday. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of 51.91, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. RBC Bearings Incorporated has a 52 week low of $260.53 and a 52 week high of $386.41. The business’s 50 day moving average is $346.43 and its two-hundred day moving average is $337.09. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Morgan Stanley restated an “overweight” rating and set a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Truist Financial restated a “buy” rating and set a $405.00 target price (up previously from $375.00) on shares of RBC Bearings in a research note on Monday, May 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $387.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in shares of RBC Bearings in the first quarter valued at approximately $25,000. Advisors Asset Management Inc. acquired a new position in shares of RBC Bearings in the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of RBC Bearings by 109.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 59 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of RBC Bearings in the fourth quarter valued at approximately $38,000. Finally, UMB Bank n.a. increased its holdings in shares of RBC Bearings by 80.8% in the first quarter. UMB Bank n.a. now owns 311 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 139 shares during the period.

About RBC Bearings

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.