RBC Bearings Incorporated (NYSE:RBC) COO Daniel A. Bergeron Sells 31,282 Shares of Stock

RBC Bearings Incorporated (NYSE:RBC) COO Daniel A. Bergeron sold 31,282 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $380.28, for a total value of $11,895,918.96. Following the completion of the sale, the chief operating officer now directly owns 111,134 shares in the company, valued at approximately $42,262,037.52. This represents a 21.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

RBC Bearings Stock Down 0.0%

Shares of RBC Bearings stock traded down $0.09 during trading on Monday, reaching $381.21. The stock had a trading volume of 187,125 shares, compared to its average volume of 162,855. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a 52 week low of $260.53 and a 52 week high of $386.41. The stock has a fifty day moving average price of $344.33 and a two-hundred day moving average price of $336.49. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 52.36, a P/E/G ratio of 4.42 and a beta of 1.66.

RBC Bearings (NYSE:RBC) last announced its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) 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 company had revenue of $437.70 million during the quarter, compared to analysts’ expectations of $440.26 million. During the same quarter in the previous year, the business posted $2.47 earnings per share. RBC Bearings’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RBC shares. Truist Financial reiterated a “buy” rating and set a $405.00 target price (up previously from $375.00) on shares of RBC Bearings in a research report on Monday, May 19th. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, RBC Bearings has an average rating of “Moderate Buy” and an average price target of $387.50.

Hedge Funds Weigh In On RBC Bearings

Several large investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of RBC Bearings in the 4th quarter worth approximately $88,184,000. Raymond James Financial Inc. acquired a new position in RBC Bearings during the 4th quarter valued at about $71,324,000. Vanguard Group Inc. grew its holdings in RBC Bearings by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company’s stock worth $879,149,000 after buying an additional 229,466 shares in the last quarter. GAMMA Investing LLC grew its position in RBC Bearings by 38,860.9% in the 1st quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company’s stock worth $64,813,000 after purchasing an additional 200,911 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of RBC Bearings by 32.6% during the fourth quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company’s stock valued at $159,998,000 after acquiring an additional 131,614 shares during the last quarter.

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.