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

RBC Bearings Incorporated (NYSE:RBC) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $361.20.

RBC has been the subject of a number of recent analyst reports. KeyCorp upped their target price on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Morgan Stanley upped their target price on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Truist Financial upped their target price on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Finally, Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and upped their target price for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st.

Insider Activity

In other news, CFO Robert M. Sullivan sold 8,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was 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 directly owns 11,382 shares of the company’s stock, valued at approximately $4,123,129.50. This represents a 41.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the completion of the transaction, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RBC. R Squared Ltd bought a new position in RBC Bearings in the fourth quarter worth $30,000. Golden State Wealth Management LLC bought a new position in RBC Bearings in the fourth quarter worth $38,000. UMB Bank n.a. lifted its position in RBC Bearings by 84.9% in the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 79 shares during the period. Harbor Investment Advisory LLC bought a new position in RBC Bearings in the fourth quarter worth $82,000. Finally, Quarry LP raised its stake in RBC Bearings by 1,003.7% during the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 271 shares in the last quarter.

RBC Bearings Trading Down 0.3 %

NYSE:RBC opened at $357.24 on Friday. The company has a market capitalization of $11.22 billion, a P/E ratio of 49.07, a P/E/G ratio of 4.42 and a beta of 1.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The stock’s 50 day moving average price is $328.94 and its 200 day moving average price is $311.44. RBC Bearings has a 52 week low of $241.43 and a 52 week high of $372.83.

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.