Edward Stewart Sells 3,000 Shares of RBC Bearings Incorporated (NYSE:RBC) Stock

RBC Bearings Incorporated (NYSE:RBC) Director Edward Stewart sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $277.24, for a total transaction of $831,720.00. Following the completion of the transaction, the director now directly owns 20,461 shares in the company, valued at approximately $5,672,607.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

RBC Bearings Stock Performance

Shares of RBC Bearings stock traded down $2.39 during mid-day trading on Wednesday, hitting $272.47. 87,811 shares of the stock were exchanged, compared to its average volume of 148,227. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.16 and a current ratio of 3.28. The company has a market capitalization of $7.96 billion, a P/E ratio of 42.97, a P/E/G ratio of 3.40 and a beta of 1.51. The company has a 50-day simple moving average of $282.01 and a 200 day simple moving average of $272.14. RBC Bearings Incorporated has a 12 month low of $214.14 and a 12 month high of $309.01.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.21 by $0.33. RBC Bearings had a return on equity of 9.81% and a net margin of 13.45%. The business had revenue of $406.30 million for the quarter, compared to the consensus estimate of $416.65 million. During the same quarter in the prior year, the business earned $1.98 earnings per share. RBC Bearings’s revenue for the quarter was up 5.0% on a year-over-year basis. Sell-side analysts anticipate that RBC Bearings Incorporated will post 8.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RBC Bearings

Several institutional investors have recently bought and sold shares of RBC. Raymond James Financial Services Advisors Inc. lifted its stake in RBC Bearings by 16.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,890 shares of the industrial products company’s stock valued at $538,000 after purchasing an additional 265 shares during the last quarter. Fifth Third Bancorp raised its holdings in RBC Bearings by 13.2% during the 4th quarter. Fifth Third Bancorp now owns 479 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 56 shares during the period. New York State Teachers Retirement System raised its holdings in RBC Bearings by 2.3% during the 4th quarter. New York State Teachers Retirement System now owns 4,500 shares of the industrial products company’s stock valued at $1,282,000 after acquiring an additional 100 shares during the period. Bleakley Financial Group LLC raised its holdings in RBC Bearings by 2.1% during the 4th quarter. Bleakley Financial Group LLC now owns 3,197 shares of the industrial products company’s stock valued at $911,000 after acquiring an additional 66 shares during the period. Finally, Yorktown Management & Research Co Inc bought a new stake in RBC Bearings during the 4th quarter valued at $285,000.

Analyst Ratings Changes

RBC has been the topic of several recent research reports. The Goldman Sachs Group raised their price target on shares of RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Truist Financial dropped their price target on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. William Blair assumed coverage on shares of RBC Bearings in a research report on Wednesday, May 29th. They issued an “outperform” rating on the stock. Morgan Stanley lifted their target price on shares of RBC Bearings from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, Raymond James assumed coverage on shares of RBC Bearings in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $284.71.

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.