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

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) CEO Michael J. Hartnett sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.95, for a total transaction of $919,875.00. Following the sale, the chief executive officer now owns 320,088 shares of the company's stock, 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 filing with the SEC, which can be accessed through the SEC website.

RBC Bearings Stock Performance

Shares of RBC traded up $0.83 during trading hours on Monday, hitting $362.93. The company had a trading volume of 122,354 shares, compared to its average volume of 160,337. The business has a fifty day moving average of $319.68 and a 200-day moving average of $303.97. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of 49.85, a PEG ratio of 4.90 and a beta of 1.58. RBC Bearings Incorporated has a 12 month low of $241.43 and a 12 month high of $372.51. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RBC. UMB Bank n.a. lifted its stake in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 75 shares during the last quarter. R Squared Ltd bought a new stake in shares of RBC Bearings during the fourth quarter worth about $30,000. Golden State Wealth Management LLC acquired a new position in RBC Bearings during the 4th quarter worth about $38,000. Harbor Investment Advisory LLC acquired a new position in RBC Bearings in the fourth quarter valued at $82,000. Finally, Blue Trust Inc. grew its holdings in RBC Bearings by 541.9% during the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company's stock worth $83,000 after acquiring an additional 233 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RBC. William Blair reaffirmed an "outperform" rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Truist Financial boosted their price objective on RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Bank of America cut shares of RBC Bearings from a "buy" rating to a "neutral" rating and raised their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. KeyCorp boosted their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley raised their price target on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, RBC Bearings currently has an average rating of "Moderate Buy" and a consensus target price of $348.50.

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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