Insider Selling: RBC Bearings Incorporated (NYSE:RBC) Director Sells $456,300.00 in Stock

RBC Bearings Incorporated (NYSE:RBC) Director Steven H. Kaplan sold 2,000 shares of RBC Bearings stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $228.15, for a total transaction of $456,300.00. Following the completion of the sale, the director now owns 5,900 shares of the company’s stock, valued at approximately $1,346,085. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

RBC Bearings Price Performance

Shares of NYSE:RBC opened at $233.80 on Friday. The firm has a 50 day moving average of $221.07 and a 200-day moving average of $221.41. The stock has a market capitalization of $6.74 billion, a PE ratio of 43.54, a PEG ratio of 4.63 and a beta of 1.42. The company has a current ratio of 2.96, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. RBC Bearings Incorporated has a 12 month low of $195.18 and a 12 month high of $260.00.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Friday, August 4th. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.11. The business had revenue of $387.12 million during the quarter, compared to analysts’ expectations of $390.72 million. RBC Bearings had a net margin of 11.93% and a return on equity of 9.51%. On average, equities research analysts predict that RBC Bearings Incorporated will post 8.2 EPS for the current fiscal year.

Hedge Funds Weigh In On RBC Bearings

Institutional investors have recently added to or reduced their stakes in the stock. First Capital Advisors Group LLC. acquired a new position in RBC Bearings during the 2nd quarter worth approximately $26,000. Signaturefd LLC acquired a new position in RBC Bearings during the 1st quarter worth approximately $29,000. Compass Wealth Management LLC acquired a new position in RBC Bearings during the 1st quarter worth approximately $34,000. Stephens Inc. AR acquired a new position in RBC Bearings in the 1st quarter valued at approximately $36,000. Finally, Private Trust Co. NA acquired a new position in RBC Bearings in the 1st quarter valued at approximately $39,000.

Analyst Ratings Changes

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

About RBC Bearings

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.