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

RBC Bearings Incorporated (NYSE:RBC) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $361.20.

A number of equities research analysts recently issued reports on RBC shares. KeyCorp upped their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley upped their price target on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Truist Financial raised their price objective on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research note on Monday, February 3rd.

RBC Bearings Price Performance

NYSE RBC opened at $326.09 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $10.24 billion, a PE ratio of 44.79, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. RBC Bearings has a 12-month low of $241.43 and a 12-month high of $372.83. The company has a 50 day moving average price of $345.26 and a two-hundred day moving average price of $319.26.

Insider Buying and Selling at RBC Bearings

In related 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 transaction of $2,898,000.00. Following the completion of the sale, the chief financial officer now owns 11,382 shares in the company, valued at $4,123,129.50. This represents a 41.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Hartnett sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total value of $919,875.00. Following the completion of the sale, the chief executive officer now directly owns 320,088 shares in the company, valued at $117,776,379.60. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,900 shares of company stock worth $3,963,031 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On RBC Bearings

Several large investors have recently bought and sold shares of the stock. Torray Investment Partners LLC raised its stake in shares of RBC Bearings by 0.3% in the 4th quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock valued at $2,533,000 after buying an additional 28 shares in the last quarter. Curated Wealth Partners LLC increased its stake in RBC Bearings by 1.6% in the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock valued at $595,000 after acquiring an additional 32 shares during the period. Townsquare Capital LLC raised its position in RBC Bearings by 0.6% in the fourth quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company’s stock worth $1,694,000 after purchasing an additional 36 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in RBC Bearings by 6.4% during the fourth quarter. Rafferty Asset Management LLC now owns 713 shares of the industrial products company’s stock worth $213,000 after purchasing an additional 43 shares during the period. Finally, Argonautica Private Wealth Management Inc. lifted its stake in RBC Bearings by 3.4% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company’s stock worth $418,000 after purchasing an additional 46 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.