Michael H. Ambrose Sells 400 Shares of RBC Bearings Incorporated (NYSE:RBC) Stock

RBC Bearings Incorporated (NYSE:RBC) Director Michael H. Ambrose sold 400 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of the transaction, the director now directly owns 6,728 shares in the company, valued at $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

RBC Bearings Trading Down 1.3 %

RBC opened at $364.78 on Friday. RBC Bearings Incorporated has a one year low of $240.36 and a one year high of $372.51. The stock has a market capitalization of $11.46 billion, a PE ratio of 50.11, a P/E/G ratio of 4.81 and a beta of 1.58. The business’s 50 day moving average price is $319.15 and its 200 day moving average price is $303.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RBC. Marshall Wace LLP acquired a new position in RBC Bearings in the second quarter valued at approximately $244,000. Millennium Management LLC lifted its holdings in RBC Bearings by 313.5% in the second quarter. Millennium Management LLC now owns 46,861 shares of the industrial products company’s stock valued at $12,642,000 after acquiring an additional 35,529 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in RBC Bearings in the second quarter valued at approximately $1,096,000. SG Americas Securities LLC lifted its holdings in RBC Bearings by 19.9% in the third quarter. SG Americas Securities LLC now owns 4,281 shares of the industrial products company’s stock valued at $1,282,000 after acquiring an additional 712 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in RBC Bearings by 23.2% in the third quarter. GAMMA Investing LLC now owns 440 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 83 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. KeyCorp raised their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Morgan Stanley raised their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and raised their target price for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, Truist Financial raised their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $348.50.

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.