RBC Bearings (NYSE:RBC) Sees Unusually-High Trading Volume

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 397,126 shares were traded during trading, an increase of 179% from the previous session's volume of 142,485 shares.The stock last traded at $303.67 and had previously closed at $301.55.

Analysts Set New Price Targets

A number of brokerages have recently commented on RBC. Raymond James began coverage on shares of RBC Bearings in a research report on Friday, June 28th. They issued a "market perform" rating on the stock. Truist Financial reduced their price objective on shares of RBC Bearings from $328.00 to $315.00 and set a "buy" rating for the company in a research note on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $287.67.

RBC Bearings Stock Up 0.7 %

The firm has a market cap of $8.88 billion, a price-to-earnings ratio of 47.55, a P/E/G ratio of 3.59 and a beta of 1.51. The firm has a fifty day simple moving average of $288.37 and a 200-day simple moving average of $276.86. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 3.01.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.54 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $416.65 million. During the same quarter in the prior year, the business earned $1.98 EPS. RBC Bearings's quarterly revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts expect that RBC Bearings Incorporated will post 8.95 EPS for the current year.

Insider Buying and Selling

In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the transaction, the vice president now owns 12,539 shares in the company, valued at approximately $3,669,789.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Michael J. Hartnett sold 3,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $284.23, for a total transaction of $852,690.00. Following the sale, the chief executive officer now owns 294,120 shares of the company's stock, valued at $83,597,727.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total value of $1,229,214.00. Following the completion of the transaction, the vice president now directly owns 12,539 shares of the company's stock, valued at $3,669,789.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,327 shares of company stock valued at $11,900,641. Insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Maren Capital LLC bought a new stake in shares of RBC Bearings during the 4th quarter worth approximately $80,912,000. Public Employees Retirement Association of Colorado boosted its holdings in shares of RBC Bearings by 1,362.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 118,830 shares of the industrial products company's stock valued at $33,853,000 after purchasing an additional 110,705 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of RBC Bearings by 22.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company's stock valued at $93,626,000 after purchasing an additional 64,217 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of RBC Bearings by 30.4% during the 2nd quarter. American Century Companies Inc. now owns 206,630 shares of the industrial products company's stock worth $55,745,000 after buying an additional 48,209 shares in the last quarter. Finally, Douglas Lane & Associates LLC lifted its position in shares of RBC Bearings by 123.9% during the 2nd quarter. Douglas Lane & Associates LLC now owns 81,862 shares of the industrial products company's stock worth $22,085,000 after buying an additional 45,294 shares during the last quarter.

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.

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