RBC Bearings Incorporated (NYSE:RBC – Get Free Report) CEO Michael J. Hartnett sold 503 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the sale, the chief executive officer now owns 322,588 shares of the company’s stock, valued at approximately $93,227,932. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
RBC Bearings Trading Up 0.6 %
RBC stock traded up $1.66 during midday trading on Wednesday, hitting $292.16. 136,339 shares of the company’s stock were exchanged, compared to its average volume of 141,471. RBC Bearings Incorporated has a one year low of $214.14 and a one year high of $309.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 3.01. The company has a market cap of $8.54 billion, a PE ratio of 46.04, a price-to-earnings-growth ratio of 3.49 and a beta of 1.51. The stock’s fifty day moving average price is $287.72 and its 200-day moving average price is $275.49.
RBC Bearings (NYSE:RBC – Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.21 by $0.33. The business had revenue of $406.30 million for the quarter, compared to analysts’ expectations of $416.65 million. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.98 EPS. Research analysts predict that RBC Bearings Incorporated will post 8.85 earnings per share for the current fiscal year.
Institutional Investors Weigh In On RBC Bearings
Analyst Upgrades and Downgrades
Several research firms recently issued reports on RBC. Morgan Stanley increased their price target on shares of RBC Bearings from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Raymond James started coverage on RBC Bearings in a report on Friday, June 28th. They issued a “market perform” rating for the company. Truist Financial decreased their price target on RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. William Blair began coverage on RBC Bearings in a research report on Wednesday, May 29th. They issued an “outperform” rating on the stock. Finally, The Goldman Sachs Group lifted their price objective on RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Four investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $287.67.
Read Our Latest Stock Analysis on RBC Bearings
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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