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

RBC Bearings Incorporated (NYSE:RBC) has been given an average rating of “Moderate Buy” by the seven brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $361.20.

A number of equities analysts have recently commented on RBC shares. KeyCorp boosted their price target on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley boosted their target price 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 target on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research note on Monday, February 3rd.

Insider Activity

In other news, Director Michael H. Ambrose sold 400 shares of RBC Bearings stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the transaction, the director now owns 6,728 shares in the company, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Hartnett sold 2,500 shares of the stock in a transaction 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 owns 320,088 shares of the company’s stock, valued at $117,776,379.60. The trade was a 0.77 % decrease in their ownership of the stock. 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 quarter. 2.60% of the stock is owned by company insiders.

Institutional Trading of RBC Bearings

Institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new position in RBC Bearings during the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC bought a new position in RBC Bearings during the fourth quarter worth $38,000. UMB Bank n.a. lifted its holdings in RBC Bearings by 84.9% in the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock valued at $51,000 after buying an additional 79 shares during the period. Harbor Investment Advisory LLC bought a new stake in RBC Bearings during the fourth quarter valued at $82,000. Finally, Quarry LP grew its holdings in RBC Bearings by 1,003.7% during the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 271 shares during the period.

RBC Bearings Stock Up 0.3 %

Shares of RBC opened at $333.35 on Tuesday. The firm has a 50 day simple moving average of $344.99 and a two-hundred day simple moving average of $318.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings has a one year low of $241.43 and a one year high of $372.83. The company has a market cap of $10.47 billion, a P/E ratio of 45.79, a P/E/G ratio of 4.42 and a beta of 1.72.

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.