Dolores Ennico Sells 600 Shares of RBC Bearings (NYSE:RBC) Stock

RBC Bearings Incorporated (NYSE:RBC) Director Dolores Ennico sold 600 shares of the 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 transaction, the director directly owned 7,254 shares in the company, valued at approximately $4,614,341.94. This represents a 7.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

RBC Bearings Trading Down 2.9%

NYSE RBC opened at $630.07 on Friday. The stock’s 50-day simple moving average is $597.75 and its two-hundred day simple moving average is $547.06. RBC Bearings Incorporated has a twelve month low of $364.50 and a twelve month high of $667.69. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $19.94 billion, a price-to-earnings ratio of 69.31, a PEG ratio of 3.75 and a beta of 1.42.

RBC Bearings (NYSE:RBC) 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 the consensus estimate of $3.31 by $0.31. The firm had revenue of $518.00 million during 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 company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.83 earnings per share. Research analysts forecast that RBC Bearings Incorporated will post 13.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RBC has been the subject of several research reports. Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. KeyCorp upped their price objective on shares of RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Weiss Ratings lowered shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Finally, Truist Financial reiterated a “buy” rating and issued a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, RBC Bearings has a consensus rating of “Moderate Buy” and an average price target of $584.00.

Hedge Funds Weigh In On RBC Bearings

A number of large investors have recently bought and sold shares of the stock. Comerica Bank raised its holdings in RBC Bearings by 19.5% during the 4th quarter. Comerica Bank now owns 90,283 shares of the industrial products company’s stock valued at $40,486,000 after buying an additional 14,747 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in RBC Bearings by 263.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,737 shares of the industrial products company’s stock worth $1,788,000 after acquiring an additional 2,709 shares during the last quarter. Faithward Advisors LLC purchased a new position in shares of RBC Bearings in the third quarter valued at about $2,826,000. DNB Asset Management AS increased its position in shares of RBC Bearings by 91.6% in the third quarter. DNB Asset Management AS now owns 6,987 shares of the industrial products company’s stock valued at $2,727,000 after acquiring an additional 3,340 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of RBC Bearings by 36.4% during the third quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company’s stock valued at $137,669,000 after acquiring an additional 94,203 shares during the last quarter.

RBC Bearings Company Profile

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.