Brokerages Set RBC Bearings Incorporated (NYSE:RBC) PT at $297.20

RBC Bearings Incorporated (NYSE:RBC) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $324.67.

A number of equities research analysts have issued reports on the stock. Truist Financial lifted their price target on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday. KeyCorp upgraded shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target on the stock in a report on Friday. Finally, Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $330.00 to $335.00 in a research note on Thursday.

Insider Activity

In related news, VP Richard J. Edwards sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total value of $1,229,214.00. Following the completion of the transaction, the vice president now owns 12,539 shares in the company, valued at $3,669,789.13. The trade was a 25.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Hartnett sold 3,000 shares of RBC Bearings stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $284.23, for a total value of $852,690.00. Following the completion of the sale, the chief executive officer now owns 294,120 shares of the company’s stock, valued at approximately $83,597,727.60. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,327 shares of company stock worth $11,068,921. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of RBC Bearings

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in shares of RBC Bearings by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,095,607 shares of the industrial products company’s stock worth $566,549,000 after purchasing an additional 20,491 shares in the last quarter. Vanguard Group Inc. lifted its position in RBC Bearings by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock worth $738,433,000 after buying an additional 19,574 shares in the last quarter. CWM LLC boosted its stake in shares of RBC Bearings by 41.3% during the 2nd quarter. CWM LLC now owns 10,436 shares of the industrial products company’s stock worth $2,815,000 after buying an additional 3,051 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of RBC Bearings by 17.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock valued at $27,125,000 after acquiring an additional 13,395 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of RBC Bearings in the second quarter valued at about $2,380,000.

RBC Bearings Stock Performance

Shares of RBC opened at $336.65 on Wednesday. RBC Bearings has a 52-week low of $240.36 and a 52-week high of $337.19. The firm has a market capitalization of $10.57 billion, a PE ratio of 49.15, a P/E/G ratio of 3.69 and a beta of 1.51. The firm has a 50-day moving average price of $297.72 and a 200 day moving average price of $288.24. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The business had revenue of $397.90 million for the quarter, compared to the consensus estimate of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.07 earnings per share. On average, sell-side analysts anticipate that RBC Bearings will post 8.94 earnings per share for the current fiscal year.

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.