Key Points
- Steven Kaplan sold 700 shares on November 12 at an average price of $443 for $310,100, reducing his stake to 1,999 shares — a 25.94% ownership decline valued at about $885,557.
- Analyst upgrades: several brokerages have raised ratings and price targets (Bank of America to "buy" with a $500 target; Deutsche Bank $503; Truist $471), leaving a consensus "Moderate Buy" and an average price target of $459.17.
- The stock was trading near $433, close to its one-year high of $448.74, with a market capitalization of $13.69 billion and a high P/E ratio of about 54.6, reflecting elevated valuation metrics.
RBC Bearings Incorporated (NYSE:RBC - Get Free Report) Director Steven Kaplan sold 700 shares of the business's stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total transaction of $310,100.00. Following the transaction, the director owned 1,999 shares of the company's stock, valued at approximately $885,557. This represents a 25.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
RBC Bearings Price Performance
Shares of RBC traded up $1.47 during midday trading on Friday, hitting $433.02. The company's stock had a trading volume of 9,667 shares, compared to its average volume of 178,754. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29. RBC Bearings Incorporated has a one year low of $290.56 and a one year high of $448.74. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of 54.57, a price-to-earnings-growth ratio of 3.16 and a beta of 1.73. The company's fifty day simple moving average is $394.88 and its two-hundred day simple moving average is $384.46.
RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The business had revenue of $156.21 million during the quarter. As a group, equities analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages recently commented on RBC. Bank of America raised shares of RBC Bearings from a "neutral" rating to a "buy" rating and increased their price objective for the company from $390.00 to $500.00 in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $503.00 price target on shares of RBC Bearings and gave the stock a "buy" rating in a report on Wednesday, October 8th. Truist Financial restated a "buy" rating and issued a $471.00 price objective (up from $455.00) on shares of RBC Bearings in a report on Monday, November 3rd. Zacks Research downgraded RBC Bearings from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of RBC Bearings in a research report on Tuesday. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $459.17.
Get Our Latest Research Report on RBC
Institutional Investors Weigh In On RBC Bearings
Several institutional investors and hedge funds have recently made changes to their positions in RBC. HB Wealth Management LLC acquired a new stake in RBC Bearings in the 2nd quarter valued at $237,000. Machina Capital S.A.S. bought a new stake in RBC Bearings in the second quarter worth about $352,000. Jump Financial LLC bought a new position in RBC Bearings during the first quarter valued at $254,000. Atria Wealth Solutions Inc. bought a new position in RBC Bearings during the first quarter worth about $414,000. Finally, LPL Financial LLC increased its stake in shares of RBC Bearings by 28.4% in the first quarter. LPL Financial LLC now owns 34,447 shares of the industrial products company's stock worth $10,962,000 after purchasing an additional 7,614 shares in the last quarter.
RBC Bearings Company Profile
(
Get Free Report)
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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