RBC Bearings Incorporated (NYSE:RBC) Given Consensus Recommendation of “Moderate Buy” by Analysts

RBC Bearings Incorporated (NYSE:RBC) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $459.1667.

Several brokerages have issued reports on RBC. Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $503.00 target price on shares of RBC Bearings and gave the company a “buy” rating in a report on Wednesday, October 8th. Truist Financial reissued a “buy” rating and set a $471.00 price target (up from $455.00) on shares of RBC Bearings in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a report on Monday. Finally, Bank of America raised RBC Bearings from a “neutral” rating to a “buy” rating and increased their target price for the stock from $390.00 to $500.00 in a research note on Thursday, November 6th.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, VP John J. Feeney sold 105 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $382.83, for a total value of $40,197.15. Following the completion of the sale, the vice president owned 2,666 shares of the company’s stock, valued at approximately $1,020,624.78. This trade represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven H. Kaplan sold 700 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total transaction of $310,100.00. Following the transaction, the director directly owned 1,999 shares in the company, valued at approximately $885,557. This trade represents a 25.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On RBC Bearings

A number of hedge funds and other institutional investors have recently modified their holdings of RBC. Vanguard Group Inc. boosted its stake in shares of RBC Bearings by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,946,581 shares of the industrial products company’s stock worth $1,133,844,000 after acquiring an additional 13,061 shares in the last quarter. State Street Corp raised its holdings in RBC Bearings by 0.5% during the third quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock worth $358,778,000 after purchasing an additional 4,568 shares during the last quarter. Geneva Capital Management LLC raised its holdings in RBC Bearings by 7.4% during the second quarter. Geneva Capital Management LLC now owns 633,230 shares of the industrial products company’s stock worth $243,667,000 after purchasing an additional 43,812 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in RBC Bearings by 51.7% during the third quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock worth $241,821,000 after purchasing an additional 211,093 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in RBC Bearings by 4.1% in the second quarter. Geode Capital Management LLC now owns 557,858 shares of the industrial products company’s stock valued at $214,699,000 after purchasing an additional 21,972 shares during the last quarter.

RBC Bearings Stock Up 1.1%

RBC opened at $442.97 on Friday. RBC Bearings has a 52 week low of $290.56 and a 52 week high of $449.60. The business has a 50 day moving average price of $411.48 and a two-hundred day moving average price of $393.62. The company has a quick ratio of 1.13, a current ratio of 3.18 and a debt-to-equity ratio of 0.34. The company has a market cap of $14.00 billion, a PE ratio of 54.09, a P/E/G ratio of 3.09 and a beta of 1.53.

RBC Bearings (NYSE:RBC) last released its earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%.The business had revenue of $156.21 million for the quarter. As a group, research analysts anticipate that RBC Bearings will post 9.16 EPS for the current year.

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.