RBC Bearings Incorporated (NYSE:RBC) COO Daniel A. Bergeron Sells 3,718 Shares

RBC Bearings Incorporated (NYSE:RBC) COO Daniel A. Bergeron sold 3,718 shares of RBC Bearings stock in a transaction on Friday, June 6th. The shares were sold at an average price of $382.21, for a total value of $1,421,056.78. Following the completion of the transaction, the chief operating officer now owns 111,134 shares in the company, valued at approximately $42,476,526.14. The trade was a 3.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

RBC Bearings Price Performance

Shares of RBC opened at $381.21 on Tuesday. 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 Incorporated has a 12-month low of $260.53 and a 12-month high of $386.41. The business has a 50-day simple moving average of $345.21 and a two-hundred day simple moving average of $336.80. The stock has a market cap of $11.97 billion, a PE ratio of 52.36, a PEG ratio of 4.42 and a beta of 1.66.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On RBC Bearings

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio bought a new stake in RBC Bearings in the first quarter worth approximately $1,632,000. Advisors Capital Management LLC increased its stake in shares of RBC Bearings by 5.4% in the 1st quarter. Advisors Capital Management LLC now owns 29,391 shares of the industrial products company’s stock valued at $9,457,000 after acquiring an additional 1,497 shares in the last quarter. Jane Street Group LLC increased its stake in shares of RBC Bearings by 198.2% in the 1st quarter. Jane Street Group LLC now owns 4,861 shares of the industrial products company’s stock valued at $1,564,000 after acquiring an additional 3,231 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of RBC Bearings by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,770 shares of the industrial products company’s stock valued at $21,163,000 after acquiring an additional 923 shares during the period. Finally, United Services Automobile Association acquired a new position in shares of RBC Bearings during the 1st quarter valued at $635,000.

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.