RBC Bearings Incorporated (NYSE:RBC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of RBC Bearings Incorporated (NYSE:RBC) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $361.20.

Several analysts recently issued reports on RBC shares. Truist Financial upped their price objective on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a report on Monday, February 3rd. William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Morgan Stanley lifted their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, KeyCorp increased their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd.

RBC Bearings Trading Up 1.5 %

Shares of NYSE:RBC opened at $334.85 on Tuesday. RBC Bearings has a 12-month low of $241.43 and a 12-month high of $372.83. The business has a 50 day moving average of $343.42 and a 200-day moving average of $318.16. 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 cap of $10.52 billion, a PE ratio of 46.00, a P/E/G ratio of 4.42 and a beta of 1.72.

Insider Activity at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.95, for a total value 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. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction 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 in the company, 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 sold a total of 10,900 shares of company stock valued at $3,963,031 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of RBC Bearings

Large investors have recently bought and sold shares of the business. R Squared Ltd acquired a new position in RBC Bearings during the fourth quarter worth about $30,000. Golden State Wealth Management LLC acquired a new position in RBC Bearings during the 4th quarter worth approximately $38,000. UMB Bank n.a. lifted its stake in RBC Bearings by 84.9% in 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 position in RBC Bearings in the 4th quarter valued at approximately $82,000. Finally, Quarry LP boosted its position in RBC Bearings by 1,003.7% in the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock valued at $89,000 after buying an additional 271 shares in the last quarter.

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.