RBC Bearings (NYSE:RBC) Director Sells $310,100.00 in Stock

RBC Bearings Incorporated (NYSE:RBC) Director Steven Kaplan sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total value of $310,100.00. Following the sale, the director owned 1,999 shares of the company’s stock, valued at approximately $885,557. This trade represents a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

RBC Bearings Trading Down 1.0%

Shares of RBC stock traded down $4.44 during trading hours on Thursday, hitting $440.90. The company had a trading volume of 46,690 shares, compared to its average volume of 178,713. The stock has a market capitalization of $13.94 billion, a PE ratio of 55.52, a price-to-earnings-growth ratio of 3.16 and a beta of 1.73. RBC Bearings Incorporated has a fifty-two week low of $290.56 and a fifty-two week high of $448.74. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.33 and a quick ratio of 1.33. The company’s fifty day moving average is $394.06 and its 200 day moving average is $384.13.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. The company had revenue of $156.21 million during the quarter. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. Research analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RBC. Deutsche Bank Aktiengesellschaft set a $503.00 price objective on RBC Bearings and gave the company a “buy” rating in a report on Wednesday, October 8th. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Bank of America raised shares of RBC Bearings from a “neutral” rating to a “buy” rating and lifted their target price for the company from $390.00 to $500.00 in a report on Thursday, November 6th. Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a research report on Tuesday. Finally, Truist Financial reiterated a “buy” rating and set a $471.00 price target (up from $455.00) on shares of RBC Bearings in a research report on Monday, November 3rd. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $459.17.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. purchased a new position in RBC Bearings during the first quarter worth about $335,000. Cerity Partners LLC increased its position in RBC Bearings by 1.1% in the 1st quarter. Cerity Partners LLC now owns 10,339 shares of the industrial products company’s stock worth $3,327,000 after buying an additional 112 shares during the period. Xponance Inc. lifted its stake in RBC Bearings by 1.5% during the first quarter. Xponance Inc. now owns 3,491 shares of the industrial products company’s stock worth $1,123,000 after purchasing an additional 51 shares during the period. Arizona State Retirement System increased its position in RBC Bearings by 6.2% in the 1st quarter. Arizona State Retirement System now owns 8,559 shares of the industrial products company’s stock valued at $2,754,000 after acquiring an additional 500 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in shares of RBC Bearings by 2.6% during the 1st quarter. Segall Bryant & Hamill LLC now owns 81,684 shares of the industrial products company’s stock worth $26,283,000 after buying an additional 2,032 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.