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

RBC Bearings Incorporated (NYSE:RBC) CEO Michael J. Hartnett sold 2,500 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.95, for a total value of $919,875.00. Following the transaction, the chief executive officer now directly owns 320,088 shares in the company, valued at approximately $117,776,379.60. This represents a 0.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

RBC Bearings Stock Up 0.3 %

Shares of NYSE RBC opened at $364.76 on Wednesday. RBC Bearings Incorporated has a 52-week low of $241.43 and a 52-week high of $372.51. 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 stock has a market cap of $11.46 billion, a P/E ratio of 50.11, a P/E/G ratio of 4.90 and a beta of 1.58. The firm has a 50 day moving average price of $320.71 and a 200 day moving average price of $305.01.

Hedge Funds Weigh In On RBC Bearings

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley upped their price target on RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Truist Financial raised their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Finally, 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 report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, RBC Bearings presently 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.