Truist Financial Cuts RBC Bearings (NYSE:RBC) Price Target to $375.00

RBC Bearings (NYSE:RBC) had its price objective decreased by Truist Financial from $410.00 to $375.00 in a research note published on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

A number of other equities analysts also recently weighed in on RBC. Morgan Stanley raised their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. KeyCorp lifted their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $354.20.

RBC Bearings Stock Up 0.5 %

Shares of RBC Bearings stock opened at $321.48 on Thursday. RBC Bearings has a 1 year low of $241.43 and a 1 year high of $372.83. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 44.16, a PEG ratio of 4.42 and a beta of 1.60. The company has a 50-day moving average of $339.89 and a 200 day moving average of $322.38. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

Insider Activity at RBC Bearings

In related news, CEO Michael J. Hartnett sold 2,500 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.95, for a total transaction of $919,875.00. Following the sale, the chief executive officer now directly owns 320,088 shares of the company’s stock, valued at $117,776,379.60. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael H. Ambrose sold 400 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the completion of the transaction, the director now directly owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,900 shares of company stock valued at $3,963,031 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of RBC Bearings

A number of institutional investors have recently made changes to their positions in the stock. Sagespring Wealth Partners LLC bought a new position in RBC Bearings during the first quarter valued at approximately $218,000. Vista Finance LLC raised its stake in RBC Bearings by 6.9% during the 1st quarter. Vista Finance LLC now owns 879 shares of the industrial products company’s stock valued at $283,000 after buying an additional 57 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in RBC Bearings during the 1st quarter valued at $253,000. Fifth Third Bancorp lifted its holdings in shares of RBC Bearings by 15.8% during the 1st quarter. Fifth Third Bancorp now owns 690 shares of the industrial products company’s stock valued at $222,000 after buying an additional 94 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of RBC Bearings by 21.1% in the 1st quarter. GAMMA Investing LLC now owns 626 shares of the industrial products company’s stock worth $201,000 after buying an additional 109 shares during 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.