RBC Bearings Incorporated (NYSE:RBC) CFO Robert M. Sullivan Sells 8,000 Shares

RBC Bearings Incorporated (NYSE:RBC) CFO Robert M. Sullivan sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $362.25, for a total transaction of $2,898,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,382 shares of the company’s stock, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

RBC Bearings Stock Performance

RBC opened at $362.51 on Friday. The company has a market cap of $11.39 billion, a P/E ratio of 49.79, a price-to-earnings-growth ratio of 4.90 and a beta of 1.58. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $321.74 and its 200-day moving average price is $305.81. RBC Bearings Incorporated has a 52-week low of $241.43 and a 52-week high of $372.51.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co grew its stake in RBC Bearings by 6.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 20,500 shares of the industrial products company’s stock valued at $6,132,000 after purchasing an additional 1,204 shares during the last quarter. GKV Capital Management Co. Inc. acquired a new stake in shares of RBC Bearings during the fourth quarter worth about $277,000. Farringdon Capital Ltd. purchased a new stake in RBC Bearings in the fourth quarter valued at approximately $265,000. Marshall Wace LLP acquired a new position in RBC Bearings in the 4th quarter worth approximately $360,000. Finally, PEAK6 LLC purchased a new position in RBC Bearings during the 4th quarter worth approximately $519,000.

Analyst Ratings Changes

RBC has been the topic of a number of analyst reports. KeyCorp lifted their price target on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and raised their price target for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Truist Financial boosted their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley raised their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, RBC Bearings currently has an average rating of “Moderate Buy” and a consensus target price of $361.20.

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.