RBC Bearings Incorporated (NYSE:RBC – Get Free Report) CEO Michael J. Hartnett sold 3,000 shares of RBC Bearings stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $284.23, for a total transaction of $852,690.00. Following the completion of the transaction, the chief executive officer now directly owns 294,120 shares of the company’s stock, valued at approximately $83,597,727.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
RBC Bearings Stock Performance
RBC opened at $286.52 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.01 and a quick ratio of 1.09. The company has a market capitalization of $8.37 billion, a PE ratio of 44.77, a price-to-earnings-growth ratio of 3.44 and a beta of 1.51. The business has a fifty day simple moving average of $287.01 and a 200 day simple moving average of $275.08. RBC Bearings Incorporated has a 1 year low of $214.14 and a 1 year high of $309.01.
RBC Bearings (NYSE:RBC – Get Free Report) last released 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 net margin of 14.01% and a return on equity of 10.04%. The business had revenue of $406.30 million for the quarter, compared to the consensus estimate of $416.65 million. During the same period in the prior year, the company posted $1.98 earnings per share. RBC Bearings’s revenue was up 5.0% compared to the same quarter last year. Research analysts expect that RBC Bearings Incorporated will post 8.85 EPS for the current year.
Analyst Upgrades and Downgrades
Read Our Latest Stock Report on RBC Bearings
Institutional Investors Weigh In On RBC Bearings
Several institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its holdings in RBC Bearings by 3.0% in the 4th quarter. Victory Capital Management Inc. now owns 30,953 shares of the industrial products company’s stock valued at $8,818,000 after acquiring an additional 914 shares in the last quarter. Private Advisor Group LLC lifted its position in RBC Bearings by 27.6% during the fourth quarter. Private Advisor Group LLC now owns 1,252 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 271 shares during the period. Charles Schwab Investment Management Inc. lifted its position in RBC Bearings by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 283,721 shares of the industrial products company’s stock worth $80,829,000 after purchasing an additional 5,881 shares during the period. Principal Securities Inc. acquired a new stake in RBC Bearings during the fourth quarter worth about $30,000. Finally, Dimensional Fund Advisors LP increased its holdings in RBC Bearings by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 293,061 shares of the industrial products company’s stock valued at $83,492,000 after buying an additional 21,766 shares during the period.
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.
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