RBC Bearings Incorporated (NYSE:RBC) VP Richard J. Edwards Sells 4,200 Shares of Stock

RBC Bearings Incorporated (NYSE:RBC) VP Richard J. Edwards sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total value of $1,229,214.00. Following the sale, the vice president now directly owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

RBC Bearings Stock Down 0.7 %

Shares of RBC opened at $292.78 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 3.01. The company has a 50-day simple moving average of $283.10 and a 200-day simple moving average of $273.56. RBC Bearings Incorporated has a 52 week low of $214.14 and a 52 week high of $309.01. The firm has a market capitalization of $8.47 billion, a P/E ratio of 45.75, a P/E/G ratio of 3.48 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results 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 10.04% and a net margin of 14.01%. The firm had revenue of $406.30 million during the quarter, compared to analysts’ expectations of $416.65 million. During the same quarter in the prior year, the firm posted $1.98 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities research analysts expect that RBC Bearings Incorporated will post 8.85 earnings per share for the current year.

Institutional Investors Weigh In On RBC Bearings

Several institutional investors and hedge funds have recently bought and sold shares of the business. 1832 Asset Management L.P. bought a new position in shares of RBC Bearings during the 4th quarter worth about $27,000. Principal Securities Inc. bought a new position in RBC Bearings during the fourth quarter worth about $30,000. DT Investment Partners LLC acquired a new stake in RBC Bearings during the second quarter valued at approximately $35,000. Opal Wealth Advisors LLC bought a new stake in shares of RBC Bearings in the 2nd quarter valued at approximately $41,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of RBC Bearings by 570.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 161 shares of the industrial products company’s stock worth $44,000 after buying an additional 137 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. William Blair started coverage on shares of RBC Bearings in a research note on Wednesday, May 29th. They issued an “outperform” rating for the company. Truist Financial cut their target price on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Raymond James started coverage on RBC Bearings in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Morgan Stanley boosted their price objective on RBC Bearings from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, The Goldman Sachs Group raised their target price on RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $287.67.

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.