Key Points
- Insider sale: RBC Bearings VP John Feeney sold 225 shares on June 25 at an average price of $657.94, totaling about $148,036.50. After the sale, he still owned 2,378 shares, representing an 8.64% reduction in his position.
- Strong recent performance: RBC Bearings reported better-than-expected quarterly results, with EPS of $3.62 versus the $3.31 estimate and revenue of $518.0 million versus $505.9 million expected. Revenue rose 18.3% year over year.
- Wall Street sentiment remains positive: Analysts have a consensus rating of Moderate Buy on RBC, with six Buy ratings and two Hold ratings. The average price target is $584.00, even as several firms recently raised targets and one downgraded the stock to Hold.
RBC Bearings Incorporated (NYSE:RBC - Get Free Report) VP John Feeney sold 225 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total transaction of $148,036.50. Following the completion of the sale, the vice president owned 2,378 shares of the company's stock, valued at approximately $1,564,581.32. This trade represents a 8.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
RBC Bearings Trading Up 1.7%
RBC Bearings stock opened at $650.12 on Friday. RBC Bearings Incorporated has a 52 week low of $364.50 and a 52 week high of $667.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18. The firm has a market capitalization of $20.57 billion, a price-to-earnings ratio of 71.52, a P/E/G ratio of 3.69 and a beta of 1.42. The company has a 50 day moving average price of $596.87 and a 200 day moving average price of $546.48.
RBC Bearings (NYSE:RBC - Get Free Report) last announced its earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.31. The company had revenue of $518.00 million for the quarter, compared to the consensus estimate of $505.90 million. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. The company's revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.83 EPS. Research analysts forecast that RBC Bearings Incorporated will post 13.58 EPS for the current year.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Morgan Stanley increased their price objective on RBC Bearings from $600.00 to $640.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 19th. Zacks Research downgraded RBC Bearings from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 3rd. KeyCorp upped their target price on RBC Bearings from $595.00 to $680.00 and gave the company an "overweight" rating in a report on Monday, March 2nd. Weiss Ratings cut shares of RBC Bearings from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, June 17th. Finally, Truist Financial reaffirmed a "buy" rating and set a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $584.00.
Get Our Latest Stock Analysis on RBC Bearings
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of RBC. Advisors Asset Management Inc. acquired a new stake in shares of RBC Bearings during the 1st quarter valued at about $26,000. AQR Capital Management LLC raised its position in RBC Bearings by 27.8% during the first quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company's stock valued at $417,000 after acquiring an additional 282 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in RBC Bearings by 32.7% in the first quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company's stock valued at $395,000 after acquiring an additional 303 shares during the last quarter. Jones Financial Companies Lllp grew its position in RBC Bearings by 64.1% in the first quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company's stock worth $357,000 after acquiring an additional 434 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of RBC Bearings by 2.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company's stock worth $68,133,000 after purchasing an additional 4,253 shares during the last quarter.
RBC Bearings Company Profile
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Get Free Report)
RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company's product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.
The company's bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.
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