Insider Selling: RBC Bearings Incorporated (NYSE:RBC) CFO Sells 8,000 Shares of Stock

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) CFO Robert M. Sullivan sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $362.25, for a total transaction of $2,898,000.00. Following the completion of the sale, the chief financial officer now owns 11,382 shares of the company's stock, valued at approximately $4,123,129.50. This trade represents a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

RBC Bearings Stock Performance

RBC traded up $1.03 during trading on Monday, reaching $363.80. 188,155 shares of the company's stock were exchanged, compared to its average volume of 170,649. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings Incorporated has a 1 year low of $241.43 and a 1 year high of $372.51. The company's fifty day simple moving average is $322.94 and its 200-day simple moving average is $307.07. The stock has a market capitalization of $11.43 billion, a P/E ratio of 49.97, a price-to-earnings-growth ratio of 4.90 and a beta of 1.58.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Truist Financial upped 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. Bank of America downgraded shares of RBC Bearings from a "buy" rating to a "neutral" rating and upped their price objective for the company from $330.00 to $335.00 in a report on Thursday, November 21st. KeyCorp lifted their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Morgan Stanley upped their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, William Blair reiterated an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Three 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 stock presently has a consensus rating of "Moderate Buy" and an average price target of $361.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Torray Investment Partners LLC grew its position in RBC Bearings by 0.3% during the 4th quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company's stock worth $2,533,000 after purchasing an additional 28 shares during the period. Curated Wealth Partners LLC grew its holdings in RBC Bearings by 1.6% during the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company's stock worth $595,000 after acquiring an additional 32 shares during the period. Townsquare Capital LLC increased its holdings in shares of RBC Bearings by 0.6% during the 4th quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company's stock valued at $1,694,000 after purchasing an additional 36 shares in the last quarter. Rafferty Asset Management LLC raised its position in shares of RBC Bearings by 6.4% in the fourth quarter. Rafferty Asset Management LLC now owns 713 shares of the industrial products company's stock worth $213,000 after acquiring an additional 43 shares during the period. Finally, Argonautica Private Wealth Management Inc. raised its holdings in RBC Bearings by 3.4% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company's stock worth $418,000 after purchasing an additional 46 shares during the period.

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.