Insider Selling: RBC Bearings Incorporated (NYSE:RBC) Director Sells 400 Shares of Stock

RBC Bearings Incorporated (NYSE:RBC) Director Michael H. Ambrose sold 400 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the sale, the director now owns 6,728 shares in the company, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

RBC Bearings Stock Performance

NYSE:RBC traded up $0.58 during trading on Wednesday, reaching $369.40. The company’s stock had a trading volume of 163,670 shares, compared to its average volume of 163,981. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of 50.74, a price-to-earnings-growth ratio of 4.81 and a beta of 1.58. 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 firm has a 50 day moving average of $318.05 and a 200-day moving average of $302.36. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $372.51.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RBC. Norden Group LLC raised its holdings in shares of RBC Bearings by 6.7% in the 4th quarter. Norden Group LLC now owns 780 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 49 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of RBC Bearings by 13.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 755 shares of the industrial products company’s stock worth $224,000 after buying an additional 90 shares during the last quarter. US Bancorp DE lifted its stake in shares of RBC Bearings by 7.8% in the 4th quarter. US Bancorp DE now owns 7,387 shares of the industrial products company’s stock valued at $2,210,000 after purchasing an additional 533 shares during the period. Mutual of America Capital Management LLC raised its stake in RBC Bearings by 5.1% during the fourth quarter. Mutual of America Capital Management LLC now owns 16,500 shares of the industrial products company’s stock valued at $4,936,000 after buying an additional 795 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in RBC Bearings by 14.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,186 shares of the industrial products company’s stock valued at $5,739,000 after buying an additional 2,418 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RBC. KeyCorp boosted their price target on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price target for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Morgan Stanley upped their target price on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Finally, Truist Financial upped their target price on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently 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.