Analysts Set RBC Bearings Incorporated (NYSE:RBC) Price Target at $361.20

RBC Bearings Incorporated (NYSE:RBC) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation 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.

A number of research analysts recently weighed in on the company. Truist Financial upped their price target on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research note 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. Finally, KeyCorp increased their target price on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd.

RBC Bearings Trading Up 0.3 %

RBC opened at $333.35 on Tuesday. The company has a market cap of $10.47 billion, a P/E ratio of 45.79, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The company has a fifty day moving average price of $344.99 and a two-hundred day moving average price of $318.72. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. RBC Bearings has a 1-year low of $241.43 and a 1-year high of $372.83.

Insider Activity at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the transaction, the director now directly owns 6,728 shares in the company, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the company’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 completion of the sale, the chief financial officer now directly owns 11,382 shares of the company’s stock, valued at $4,123,129.50. The trade was a 41.28 % 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 valued at $3,963,031 over the last 90 days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On RBC Bearings

A number of hedge funds and other institutional investors have recently modified their holdings of the business. R Squared Ltd bought a new stake in RBC Bearings during the fourth quarter worth $30,000. Golden State Wealth Management LLC purchased a new stake in shares of RBC Bearings during the 4th quarter valued at $38,000. UMB Bank n.a. increased its position in shares of 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 purchasing an additional 79 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of RBC Bearings during the 4th quarter worth $82,000. Finally, Quarry LP boosted its holdings in shares of RBC Bearings by 1,003.7% in the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after buying an additional 271 shares during the last quarter.

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.