RBC Bearings Incorporated (NYSE:RBC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of RBC Bearings Incorporated (NYSE:RBC) have been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $361.20.

Several brokerages have recently weighed in on RBC. Truist Financial increased their price target on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. KeyCorp upped their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Morgan Stanley increased their price target on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, William Blair reissued an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th.

Insider Activity

In related news, Director Michael H. Ambrose sold 400 shares of RBC Bearings stock in a transaction 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 completion of the sale, the director now owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Hartnett sold 2,500 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.95, for a total transaction of $919,875.00. Following the transaction, the chief executive officer now owns 320,088 shares in the company, valued at approximately $117,776,379.60. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,900 shares of company stock worth $3,963,031. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in RBC Bearings by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company’s stock valued at $879,149,000 after acquiring an additional 229,466 shares in the last quarter. Durable Capital Partners LP increased its holdings in RBC Bearings by 1.9% during the 4th quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company’s stock worth $787,141,000 after purchasing an additional 48,287 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of RBC Bearings by 0.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,097,321 shares of the industrial products company’s stock worth $328,253,000 after purchasing an additional 2,884 shares during the last quarter. State Street Corp lifted its holdings in shares of RBC Bearings by 2.4% in the third quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock valued at $253,028,000 after purchasing an additional 19,962 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of RBC Bearings by 32.6% during the fourth quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company’s stock valued at $159,998,000 after buying an additional 131,614 shares during the last quarter.

RBC Bearings Trading Up 1.5 %

RBC opened at $334.85 on Tuesday. The firm has a market capitalization of $10.52 billion, a price-to-earnings ratio of 46.00, a PEG ratio of 4.42 and a beta of 1.72. RBC Bearings has a fifty-two week low of $241.43 and a fifty-two week high of $372.83. The company’s 50 day moving average price is $343.42 and its two-hundred day moving average price is $318.16. 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 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.