Michael H. Ambrose Sells 400 Shares of RBC Bearings Incorporated (NYSE:RBC) Stock

RBC Bearings Incorporated (NYSE:RBC) Director Michael H. Ambrose sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value of $145,156.00. Following the completion of the sale, the director now directly owns 6,728 shares in the company, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

RBC Bearings Stock Performance

NYSE:RBC opened at $364.78 on Friday. The firm has a market capitalization of $11.46 billion, a PE ratio of 50.11, a price-to-earnings-growth ratio of 4.81 and a beta of 1.58. The business’s fifty day moving average price is $319.15 and its 200 day moving average price is $303.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $372.51.

Hedge Funds Weigh In On RBC Bearings

Several large investors have recently bought and sold shares of the business. Torray Investment Partners LLC increased its holdings in RBC Bearings by 0.3% in the fourth quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock valued at $2,533,000 after buying an additional 28 shares during the last quarter. Curated Wealth Partners LLC increased its holdings in RBC Bearings by 1.6% in the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock valued at $595,000 after buying an additional 32 shares during the last quarter. Argonautica Private Wealth Management Inc. increased its holdings in RBC Bearings by 3.4% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company’s stock valued at $418,000 after buying an additional 46 shares during the last quarter. CIBC Asset Management Inc boosted its stake in RBC Bearings by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock valued at $273,000 after acquiring an additional 47 shares in the last quarter. Finally, Norden Group LLC boosted its stake in RBC Bearings by 6.7% in the fourth quarter. Norden Group LLC now owns 780 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 49 shares in the last quarter.

Wall Street Analyst Weigh In

RBC has been the topic of a number of research analyst reports. KeyCorp boosted their target price on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Truist Financial upped their price objective on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Morgan Stanley upped their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $348.50.

RBC Bearings Company Profile

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.