John Feeney Sells 225 Shares of RBC Bearings (NYSE:RBC) Stock

RBC Bearings Incorporated (NYSE:RBC) VP John Feeney sold 225 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total transaction of $148,036.50. Following the transaction, the vice president owned 2,378 shares of the company’s stock, valued at $1,564,581.32. This trade represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

RBC Bearings Trading Down 2.9%

RBC Bearings stock opened at $630.07 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18. RBC Bearings Incorporated has a fifty-two week low of $364.50 and a fifty-two week high of $667.69. The stock has a market cap of $19.94 billion, a P/E ratio of 69.31, a PEG ratio of 3.75 and a beta of 1.42. The firm’s fifty day moving average price is $597.75 and its 200-day moving average price is $547.06.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The company had revenue of $518.00 million during the quarter, compared to analyst estimates of $505.90 million. During the same quarter last year, the company earned $2.83 earnings per share. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. Equities research analysts forecast that RBC Bearings Incorporated will post 13.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Weiss Ratings cut shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Truist Financial restated a “buy” rating and set a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Finally, Wall Street Zen downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $584.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Basecamp Wealth Advisors LLC lifted its holdings in shares of RBC Bearings by 49.3% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 103 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 34 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of RBC Bearings by 23.4% during the 1st quarter. Pacer Advisors Inc. now owns 5,868 shares of the industrial products company’s stock valued at $3,187,000 after purchasing an additional 1,113 shares during the last quarter. NewEdge Advisors LLC raised its position in RBC Bearings by 101.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,867 shares of the industrial products company’s stock worth $1,557,000 after purchasing an additional 1,447 shares during the period. Caerus Investment Advisors LLC raised its position in RBC Bearings by 6.3% in the 1st quarter. Caerus Investment Advisors LLC now owns 553 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 33 shares during the period. Finally, Argent Capital Management LLC lifted its stake in RBC Bearings by 29.6% in the first quarter. Argent Capital Management LLC now owns 5,921 shares of the industrial products company’s stock worth $3,216,000 after purchasing an additional 1,353 shares during the last quarter.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.