RBC Bearings (NYSE:RBC – Get Free Report) was upgraded by analysts at Guggenheim to a “strong-buy” rating in a research report issued on Monday, Zacks reports.
Other analysts have also issued research reports about the stock. Truist Financial boosted their price target on shares of RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada set a $600.00 price objective on shares of RBC Bearings in a report on Monday. Wall Street Zen lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Finally, Morgan Stanley boosted their target price on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, RBC Bearings presently has an average rating of “Moderate Buy” and an average price target of $615.44.
Get Our Latest Stock Analysis on RBC Bearings
RBC Bearings Stock Up 0.3%
RBC Bearings (NYSE:RBC – Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The industrial products company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.42 by $0.46. The business had revenue of $519.50 million for the quarter, compared to analysts’ expectations of $508.92 million. RBC Bearings had a return on equity of 12.06% and a net margin of 16.40%.The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.84 EPS. As a group, equities research analysts predict that RBC Bearings will post 14.12 earnings per share for the current year.
Insider Activity
In other RBC Bearings news, Director Dolores J. Ennico sold 600 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total value of $381,666.00. Following the sale, the director directly owned 7,254 shares in the company, valued at $4,614,341.94. This represents a 7.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John J. Feeney sold 225 shares of the firm’s stock in a transaction 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 transaction, the vice president directly owned 2,378 shares of the company’s stock, valued at approximately $1,564,581.32. The trade was a 8.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.80% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in RBC. Geode Capital Management LLC raised its position in shares of RBC Bearings by 8.5% in the fourth quarter. Geode Capital Management LLC now owns 619,314 shares of the industrial products company’s stock worth $277,776,000 after buying an additional 48,419 shares in the last quarter. Maren Capital LLC grew its position in RBC Bearings by 1.4% during the fourth quarter. Maren Capital LLC now owns 450,314 shares of the industrial products company’s stock worth $201,934,000 after buying an additional 6,373 shares in the last quarter. First Trust Advisors LP increased its stake in RBC Bearings by 27.5% in the 1st quarter. First Trust Advisors LP now owns 409,700 shares of the industrial products company’s stock worth $222,516,000 after acquiring an additional 88,468 shares during the last quarter. Norges Bank bought a new position in RBC Bearings in the 4th quarter worth about $175,909,000. Finally, Franklin Resources Inc. raised its holdings in shares of RBC Bearings by 0.7% in the 4th quarter. Franklin Resources Inc. now owns 322,482 shares of the industrial products company’s stock valued at $144,611,000 after acquiring an additional 2,288 shares in the last quarter.
RBC Bearings Company Profile
RBC Bearings Incorporated is a manufacturer of highly engineered bearings and motion-control components. The company designs and produces products used to reduce friction, support rotating or moving equipment, and manage loads in demanding operating environments. Its offerings include plain bearings, roller bearings, ball bearings, spherical bearings, rod ends, thrust bearings, and specialty bearing assemblies.
The company supplies components for aerospace and defense applications, industrial machinery, transportation equipment, construction and mining systems, medical devices, and energy-related equipment.
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