RBC Bearings Incorporated (NYSE:RBC) Director Steven H. Kaplan Sells 2,500 Shares

RBC Bearings Incorporated (NYSE:RBC) Director Steven H. Kaplan sold 2,500 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $239.43, for a total transaction of $598,575.00. Following the transaction, the director now directly owns 4,400 shares in the company, valued at $1,053,492. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

RBC Bearings Stock Performance

RBC stock opened at $239.77 on Thursday. The company has a quick ratio of 1.05, a current ratio of 2.96 and a debt-to-equity ratio of 0.52. The firm has a market cap of $6.91 billion, a PE ratio of 44.65, a P/E/G ratio of 4.91 and a beta of 1.41. The business has a 50 day moving average of $222.93 and a 200-day moving average of $221.22. RBC Bearings Incorporated has a 12-month low of $195.18 and a 12-month high of $260.00.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, August 4th. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.11. RBC Bearings had a return on equity of 9.51% and a net margin of 11.93%. The firm had revenue of $387.12 million during the quarter, compared to the consensus estimate of $390.72 million. As a group, sell-side analysts expect that RBC Bearings Incorporated will post 8.2 earnings per share for the current year.

Analyst Ratings Changes

RBC has been the topic of several recent research reports. Royal Bank of Canada upgraded RBC Bearings from a “neutral” rating to an “overweight” rating in a report on Wednesday, August 9th. Morgan Stanley raised their price objective on shares of RBC Bearings from $286.00 to $294.00 and gave the company an “overweight” rating in a research note on Wednesday, August 9th. Truist Financial boosted their target price on shares of RBC Bearings from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. Wells Fargo & Company lifted their price target on RBC Bearings from $225.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. Finally, Alembic Global Advisors upgraded RBC Bearings from a “neutral” rating to an “overweight” rating and set a $267.00 target price on the stock in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, RBC Bearings currently has a consensus rating of “Hold” and an average target price of $259.33.

Institutional Trading of RBC Bearings

Several hedge funds have recently added to or reduced their stakes in RBC. American Century Companies Inc. raised its holdings in shares of RBC Bearings by 16.1% in the 1st quarter. American Century Companies Inc. now owns 2,786 shares of the industrial products company’s stock worth $540,000 after purchasing an additional 387 shares during the period. HighTower Advisors LLC lifted its position in shares of RBC Bearings by 6.8% during the 1st quarter. HighTower Advisors LLC now owns 7,920 shares of the industrial products company’s stock valued at $1,545,000 after buying an additional 501 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of RBC Bearings by 12.8% during the 1st quarter. Private Advisor Group LLC now owns 3,303 shares of the industrial products company’s stock valued at $641,000 after buying an additional 375 shares during the last quarter. MetLife Investment Management LLC raised its stake in RBC Bearings by 53.4% in the 1st quarter. MetLife Investment Management LLC now owns 14,826 shares of the industrial products company’s stock valued at $2,874,000 after acquiring an additional 5,159 shares during the period. Finally, BlackRock Inc. raised its stake in RBC Bearings by 1.6% in the 1st quarter. BlackRock Inc. now owns 2,145,334 shares of the industrial products company’s stock valued at $415,937,000 after acquiring an additional 33,956 shares during the period.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.