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

RBC Bearings Incorporated (NYSE:RBC) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $354.20.

Several equities analysts recently issued reports on the stock. KeyCorp lifted their price objective 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. Truist Financial cut their price target on RBC Bearings from $410.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Morgan Stanley upped their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th.

RBC Bearings Stock Down 0.9 %

Shares of RBC Bearings stock opened at $327.26 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 44.95, a PEG ratio of 4.42 and a beta of 1.60. The firm’s 50-day moving average is $335.77 and its two-hundred day moving average is $323.35. RBC Bearings has a 1 year low of $243.50 and a 1 year high of $372.83.

Insider Buying and Selling

In other news, CFO Robert M. Sullivan sold 8,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 11,382 shares in the company, valued at approximately $4,123,129.50. The trade was a 41.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the completion of the transaction, the chief executive officer now directly owns 320,088 shares of the company’s stock, valued at $117,776,379.60. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,900 shares of company stock worth $3,963,031 in the last ninety days. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On RBC Bearings

Several hedge funds have recently made changes to their positions in RBC. NBC Securities Inc. purchased a new stake in RBC Bearings during the 1st quarter valued at about $25,000. R Squared Ltd purchased a new stake in RBC Bearings in the fourth quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in RBC Bearings by 109.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company’s stock worth $36,000 after buying an additional 59 shares during the period. Golden State Wealth Management LLC purchased a new position in RBC Bearings during the 4th quarter worth approximately $38,000. Finally, UMB Bank n.a. lifted its stake in RBC Bearings by 84.9% during the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 79 shares during the period.

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.