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

RBC Bearings Incorporated (NYSE:RBCGet Free Report) Director Dolores Ennico sold 600 shares of RBC Bearings stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total value of $381,666.00. Following the completion of the sale, the director directly owned 7,254 shares of the company’s stock, valued at approximately $4,614,341.94. This represents a 7.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

RBC Bearings Trading Up 1.7%

NYSE RBC traded up $11.18 during trading hours on Thursday, hitting $650.12. 236,094 shares of the company’s stock were exchanged, compared to its average volume of 223,162. The business’s 50 day moving average is $595.84 and its 200-day moving average is $545.02. RBC Bearings Incorporated has a 12-month low of $364.50 and a 12-month high of $667.69. The firm has a market capitalization of $20.57 billion, a P/E ratio of 71.52, a price-to-earnings-growth ratio of 3.66 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.

RBC Bearings (NYSE:RBCGet Free Report) last issued 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. The firm had revenue of $518.00 million for the quarter, compared to analyst estimates of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the company earned $2.83 EPS. As a group, analysts anticipate that RBC Bearings Incorporated will post 13.58 EPS for the current fiscal year.

Institutional Investors Weigh In On RBC Bearings

Several institutional investors have recently bought and sold shares of RBC. State Street Corp increased its position in shares of RBC Bearings by 0.5% in the third quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock worth $358,778,000 after acquiring an additional 4,568 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of RBC Bearings by 51.7% during the 3rd quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock valued at $241,821,000 after acquiring an additional 211,093 shares in the last quarter. Geode Capital Management LLC boosted its position in RBC Bearings by 8.5% during the 4th quarter. Geode Capital Management LLC now owns 619,314 shares of the industrial products company’s stock worth $277,776,000 after purchasing an additional 48,419 shares during the period. Maren Capital LLC boosted its position in RBC Bearings by 1.4% during the 4th quarter. Maren Capital LLC now owns 450,314 shares of the industrial products company’s stock worth $201,934,000 after purchasing an additional 6,373 shares during the period. Finally, First Trust Advisors LP increased its holdings in RBC Bearings by 27.5% in the 1st quarter. First Trust Advisors LP now owns 409,700 shares of the industrial products company’s stock valued at $222,516,000 after purchasing an additional 88,468 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RBC shares. Weiss Ratings downgraded shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Wall Street Zen raised shares of RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Morgan Stanley lifted their price target on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Finally, Truist Financial restated a “buy” rating and set a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a report on Tuesday, May 19th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, RBC Bearings has an average rating of “Moderate Buy” and an average target price of $584.00.

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About RBC Bearings

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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.

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