In a filing, RBC Bearings Inc. revealed its Vice President and COO BERGERON DANIEL A unloaded Company’s shares for reported $4.01 million on Feb 21 ’24. In the deal valued at $267.22 per share,15,000 shares were sold. As a result of this transaction, BERGERON DANIEL A now holds 121,935 shares worth roughly $30.5 million.
Then, Ambrose Michael H. sold 300 shares, generating $83,339 in total proceeds. Upon selling the shares at $277.80, the Director now owns 6,800 shares.
Before that, HARTNETT MICHAEL J sold 14,774 shares. RBC Bearings Inc. shares valued at $3,864,165 were divested by the President and CEO at a price of $261.55 per share. As a result of the transaction, HARTNETT MICHAEL J now holds 293,447 shares, worth roughly $73.41 million.
BofA Securities upgraded its RBC Bearings Inc. [RBC] rating to a Buy from a an Underperform in a research note published on November 29, 2023; the price target was increased to $280 from $230. A number of analysts have revised their coverage, including Alembic Global Advisors’s analysts, who increased its forecast for the stock in early August from “a Neutral” to “an Overweight”. Wells Fargo also remained covering RBC and has decreased its forecast on January 10, 2023 with a “an Equal weight” recommendation from previously “an Overweight” rating. Alembic Global Advisors revised its rating on December 20, 2022. It rated RBC as “a Neutral” which previously was an “an Overweight”.
Price Performance Review of RBC
On Tuesday, RBC Bearings Inc. [NYSE:RBC] saw its stock fall -0.64% to $250.16. Over the last five days, the stock has lost -6.36%. RBC Bearings Inc. shares have fallen nearly -12.19% since the year began. Nevertheless, the stocks have risen 15.05% over the past one year. While a 52-week high of $288.16 was reached on 01/02/24, a 52-week low of $195.18 was recorded on 02/08/24. SMA at 50 days reached $266.48, while 200 days put it at $247.82. A total of 0.21 million shares were traded, compared to the trading of 0.11 million shares in the previous session.
Levels Of Support And Resistance For RBC Stock
The 24-hour chart illustrates a support level at 248.75, which if violated will result in even more drops to 247.33. On the upside, there is a resistance level at 251.95. A further resistance level may holdings at 253.73. The Relative Strength Index (RSI) on the 14-day chart is 33.36, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -10.66, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.48%. Stochastics %K at 5.63% indicates the stock is a buying.
