RBC Bearings Incorporated (NYSE:RBC) CEO Michael J. Hartnett Sells 2,500 Shares

RBC Bearings Incorporated (NYSE:RBC) CEO Michael J. Hartnett sold 2,500 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.95, for a total value of $919,875.00. Following the completion of the transaction, the chief executive officer now directly owns 320,088 shares in the company, valued at $117,776,379.60. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

RBC Bearings Trading Up 0.2 %

Shares of RBC Bearings stock opened at $362.93 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The company has a fifty day moving average of $320.23 and a 200 day moving average of $304.50. The company has a market capitalization of $11.40 billion, a P/E ratio of 49.85, a P/E/G ratio of 4.90 and a beta of 1.58. RBC Bearings Incorporated has a fifty-two week low of $241.43 and a fifty-two week high of $372.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. raised its position in shares of RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after buying an additional 75 shares during the last quarter. R Squared Ltd bought a new stake in RBC Bearings in the 4th quarter valued at $30,000. Golden State Wealth Management LLC purchased a new stake in RBC Bearings in the 4th quarter worth $38,000. Harbor Investment Advisory LLC bought a new position in shares of RBC Bearings during the 4th quarter valued at about $82,000. Finally, Blue Trust Inc. grew its position in shares of RBC Bearings by 541.9% during the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 233 shares in the last quarter.

Analysts Set New Price Targets

RBC has been the topic of a number of research reports. William Blair reissued an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. KeyCorp upped their price objective on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Truist Financial lifted their target price on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley upped their price target on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $348.50.

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.