Insider Selling: RBC Bearings (NYSE:RBC) VP Sells $148,036.50 in Stock

RBC Bearings Incorporated (NYSE:RBC) VP John Feeney sold 225 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total value of $148,036.50. Following the completion of the sale, the vice president owned 2,378 shares in the company, valued at $1,564,581.32. The trade was a 8.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

RBC Bearings Price Performance

NYSE RBC opened at $630.07 on Friday. The firm’s 50 day moving average is $597.75 and its 200-day moving average is $547.06. 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 PE ratio of 69.31, a price-to-earnings-growth ratio of 3.64 and a beta of 1.42. RBC Bearings Incorporated has a 12-month low of $364.50 and a 12-month high of $667.69.

RBC Bearings (NYSE:RBC) last announced its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, topping the consensus estimate of $3.31 by $0.31. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. The business had revenue of $518.00 million during the quarter, compared to analysts’ expectations of $505.90 million. During the same quarter in the prior year, the company posted $2.83 earnings per share. The firm’s revenue was up 18.3% on a year-over-year basis. Equities research analysts anticipate that RBC Bearings Incorporated will post 13.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RBC Bearings

A number of large investors have recently added to or reduced their stakes in the business. Basecamp Wealth Advisors LLC lifted its holdings in RBC Bearings by 49.3% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 103 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 34 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of RBC Bearings by 23.4% in the first quarter. Pacer Advisors Inc. now owns 5,868 shares of the industrial products company’s stock valued at $3,187,000 after purchasing an additional 1,113 shares during the period. NewEdge Advisors LLC lifted its stake in shares of RBC Bearings by 101.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,867 shares of the industrial products company’s stock worth $1,557,000 after buying an additional 1,447 shares during the last quarter. Caerus Investment Advisors LLC boosted its holdings in shares of RBC Bearings by 6.3% during the 1st quarter. Caerus Investment Advisors LLC now owns 553 shares of the industrial products company’s stock worth $300,000 after buying an additional 33 shares during the period. Finally, Argent Capital Management LLC grew its stake in RBC Bearings by 29.6% in the 1st quarter. Argent Capital Management LLC now owns 5,921 shares of the industrial products company’s stock valued at $3,216,000 after buying an additional 1,353 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research report on Saturday. Truist Financial restated a “buy” rating and issued a $615.00 price target (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. KeyCorp upped their price objective on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Morgan Stanley increased their price objective on RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings downgraded shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $584.00.

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.