RBC Bearings Incorporated (NYSE:RBC) CFO Robert M. Sullivan Sells 8,000 Shares

RBC Bearings Incorporated (NYSE:RBC) CFO Robert M. Sullivan sold 8,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $362.25, for a total value of $2,898,000.00. Following the transaction, the chief financial officer now directly owns 11,382 shares of the company’s stock, valued at approximately $4,123,129.50. The trade was a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

RBC Bearings Price Performance

RBC Bearings stock opened at $362.51 on Friday. The firm has a market capitalization of $11.39 billion, a PE ratio of 49.79, a price-to-earnings-growth ratio of 4.90 and a beta of 1.58. RBC Bearings Incorporated has a 12-month low of $241.43 and a 12-month high of $372.51. The firm has a 50-day moving average price of $321.74 and a 200-day moving average price of $305.81. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RBC. KeyCorp increased 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, February 3rd. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Morgan Stanley increased their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, Truist Financial boosted their price objective on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $361.20.

Institutional Investors Weigh In On RBC Bearings

Several large investors have recently added to or reduced their stakes in RBC. Norges Bank bought a new stake in shares of RBC Bearings during the fourth quarter valued at approximately $88,184,000. Raymond James Financial Inc. purchased a new position in RBC Bearings during the 4th quarter worth $71,324,000. Vanguard Group Inc. raised its position in RBC Bearings by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company’s stock valued at $879,149,000 after purchasing an additional 229,466 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of RBC Bearings by 89.4% in the 4th quarter. Blair William & Co. IL now owns 185,600 shares of the industrial products company’s stock worth $55,520,000 after buying an additional 87,624 shares during the period. Finally, DF Dent & Co. Inc. bought a new position in shares of RBC Bearings during the 4th quarter worth $23,962,000.

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.