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 RBC Bearings stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the transaction, the director now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

RBC Bearings Stock Performance

RBC Bearings stock opened at $369.40 on Thursday. The company has a market cap of $11.60 billion, a PE ratio of 50.74, a P/E/G ratio of 4.81 and a beta of 1.58. The company has a fifty day moving average price of $318.64 and a two-hundred day moving average price of $302.83. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $372.51.

Hedge Funds Weigh In On RBC Bearings

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in RBC Bearings by 2.4% in the third quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock worth $253,028,000 after purchasing an additional 19,962 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in shares of RBC Bearings by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company’s stock valued at $221,793,000 after acquiring an additional 12,375 shares during the period. Geneva Capital Management LLC boosted its holdings in shares of RBC Bearings by 1.4% during the third quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock valued at $176,829,000 after acquiring an additional 8,012 shares during the period. Geode Capital Management LLC boosted its holdings in shares of RBC Bearings by 1.1% during the third quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company’s stock valued at $144,490,000 after acquiring an additional 5,040 shares during the period. Finally, Port Capital LLC boosted its holdings in shares of RBC Bearings by 0.9% during the third quarter. Port Capital LLC now owns 385,101 shares of the industrial products company’s stock valued at $115,292,000 after acquiring an additional 3,525 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RBC shares. Morgan Stanley lifted their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday. Truist Financial lifted their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research note on Monday. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. KeyCorp lifted their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. 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, RBC Bearings has a consensus rating of “Moderate Buy” and an average target price 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.