Steven H. Kaplan Sells 400 Shares of RBC Bearings Incorporated (NYSE:RBC) Stock

RBC Bearings Incorporated (NYSE:RBC) Director Steven H. Kaplan sold 400 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $381.30, for a total value of $152,520.00. Following the completion of the transaction, the director now directly owns 2,499 shares in the company, valued at $952,868.70. This trade represents a 13.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

RBC Bearings Stock Down 0.0%

RBC Bearings stock traded down $0.09 during trading on Monday, reaching $381.21. 187,125 shares of the company’s stock were exchanged, compared to its average volume of 159,536. RBC Bearings Incorporated has a 52-week low of $260.53 and a 52-week high of $403.51. The firm has a market cap of $11.97 billion, a price-to-earnings ratio of 52.36, a PEG ratio of 4.42 and a beta of 1.66. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The company’s 50-day moving average is $344.33 and its two-hundred day moving average is $336.49.

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

Institutional Investors Weigh In On RBC Bearings

Hedge funds have recently bought and sold shares of the business. Deutsche Bank AG boosted its stake in shares of RBC Bearings by 2.9% during the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company’s stock valued at $529,000 after buying an additional 49 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in RBC Bearings by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company’s stock worth $59,581,000 after acquiring an additional 1,103 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of RBC Bearings by 39.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company’s stock worth $66,247,000 after purchasing an additional 62,706 shares during the last quarter. Callan Family Office LLC increased its position in shares of RBC Bearings by 251.7% in the 4th quarter. Callan Family Office LLC now owns 2,416 shares of the industrial products company’s stock worth $723,000 after purchasing an additional 1,729 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP raised its stake in shares of RBC Bearings by 35.3% in the 4th quarter. Advantage Alpha Capital Partners LP now owns 18,514 shares of the industrial products company’s stock valued at $5,545,000 after purchasing an additional 4,835 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have commented on RBC shares. Morgan Stanley restated an “overweight” rating and set a $415.00 price target (up from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. 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 report on Monday, May 19th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, RBC Bearings currently has an average rating of “Moderate Buy” and an average price target of $387.50.

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.