RBC Bearings Incorporated (NYSE:RBC – Get Free Report) VP Patrick S. Bannon sold 13,000 shares of RBC Bearings stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $244.27, for a total value of $3,175,510.00. Following the sale, the vice president now directly owns 12,376 shares in the company, valued at $3,023,085.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
RBC Bearings Price Performance
Shares of RBC opened at $240.22 on Friday. RBC Bearings Incorporated has a 52-week low of $195.18 and a 52-week high of $254.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 3.25. The business’s 50 day moving average price is $231.65 and its two-hundred day moving average price is $223.56. The firm has a market cap of $6.99 billion, a PE ratio of 42.59, a price-to-earnings-growth ratio of 4.88 and a beta of 1.42.
RBC Bearings (NYSE:RBC – Get Free Report) last issued its quarterly earnings results on Thursday, November 9th. The industrial products company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.16. RBC Bearings had a return on equity of 9.62% and a net margin of 12.32%. The firm had revenue of $385.57 million for the quarter, compared to analyst estimates of $390.18 million. On average, equities analysts anticipate that RBC Bearings Incorporated will post 8.2 EPS for the current year.
Institutional Investors Weigh In On RBC Bearings
Analysts Set New Price Targets
A number of equities analysts recently commented on RBC shares. Truist Financial cut their price objective on RBC Bearings from $275.00 to $271.00 and set a “buy” rating on the stock in a research note on Friday, November 10th. Wells Fargo & Company lifted their price objective on RBC Bearings from $235.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Monday. Citigroup lifted their price objective on RBC Bearings from $240.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 27th. Morgan Stanley lifted their price objective on RBC Bearings from $286.00 to $294.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 9th. Finally, Royal Bank of Canada raised RBC Bearings from a “neutral” rating to an “overweight” rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $263.40.
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.
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