Analysts Set RBC Bearings Incorporated (NYSE:RBC) PT at $354.20

Shares of RBC Bearings Incorporated (NYSE:RBC) have been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $354.20.

A number of research analysts have weighed in on the company. KeyCorp lifted their target price on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. 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 report on Thursday, April 17th. Finally, Morgan Stanley increased their target price on RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th.

RBC Bearings Price Performance

RBC opened at $314.40 on Friday. The firm has a 50-day moving average price of $338.91 and a 200-day moving average price of $322.75. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. RBC Bearings has a twelve month low of $241.43 and a twelve month high of $372.83. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 4.42 and a beta of 1.60.

Insider Buying and Selling

In other news, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the sale, the chief executive officer now owns 320,088 shares of the company’s stock, valued at approximately $117,776,379.60. The trade was a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert M. Sullivan sold 8,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 11,382 shares of the company’s stock, valued at approximately $4,123,129.50. The trade was a 41.28 % decrease in their position. 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 90 days. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On RBC Bearings

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in RBC Bearings by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company’s stock worth $879,149,000 after purchasing an additional 229,466 shares during the period. Durable Capital Partners LP boosted its stake 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 valued at $787,141,000 after purchasing an additional 48,287 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in RBC Bearings by 0.3% in the 4th 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 buying an additional 2,884 shares in the last quarter. Ameriprise Financial Inc. raised its holdings 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 purchasing an additional 131,614 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of RBC Bearings by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 507,771 shares of the industrial products company’s stock valued at $151,944,000 after buying an additional 25,268 shares during the period.

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.