Brokerages Set RBC Bearings Incorporated (NYSE:RBC) Target Price at $354.20

RBC Bearings Incorporated (NYSE:RBC) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $354.20.

A number of equities analysts recently commented on RBC shares. Morgan Stanley increased their price target on RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. KeyCorp raised their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Truist Financial decreased their price target on shares of RBC Bearings from $410.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th.

RBC Bearings Stock Down 0.9 %

Shares of RBC stock opened at $327.26 on Friday. The company’s fifty day simple moving average is $335.77 and its two-hundred day simple moving average is $323.35. RBC Bearings has a 52 week low of $243.50 and a 52 week high of $372.83. The stock has a market cap of $10.28 billion, a P/E ratio of 44.95, a PEG ratio of 4.42 and a beta of 1.60. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

Insider Buying and Selling

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $362.25, for a total value of $2,898,000.00. Following the completion of the sale, the chief financial officer now owns 11,382 shares of the company’s stock, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value of $145,156.00. Following the transaction, the director now owns 6,728 shares of the company’s stock, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock worth $3,963,031 over the last three months. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On RBC Bearings

A number of institutional investors and hedge funds have recently modified their holdings of the business. Torray Investment Partners LLC lifted its position in shares of RBC Bearings by 0.3% during the fourth quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock worth $2,533,000 after purchasing an additional 28 shares during the last quarter. Curated Wealth Partners LLC increased its stake in RBC Bearings by 1.6% in the 4th quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock worth $595,000 after buying an additional 32 shares during the period. Townsquare Capital LLC lifted its holdings in RBC Bearings by 0.6% during the 4th quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company’s stock valued at $1,694,000 after buying an additional 36 shares in the last quarter. Rafferty Asset Management LLC boosted its position in RBC Bearings by 6.4% in the 4th quarter. Rafferty Asset Management LLC now owns 713 shares of the industrial products company’s stock valued at $213,000 after buying an additional 43 shares during the period. Finally, Argonautica Private Wealth Management Inc. grew its stake in RBC Bearings by 3.4% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company’s stock worth $418,000 after acquiring an additional 46 shares in the last quarter.

RBC Bearings Company Profile

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.