RBC Bearings (NYSE:RBC) Stock Price Expected to Rise, Morgan Stanley Analyst Says

RBC Bearings (NYSE:RBC) had its target price raised by equities researchers at Morgan Stanley from $360.00 to $390.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price objective suggests a potential upside of 5.58% from the company’s current price.

Other analysts also recently issued research reports about the company. KeyCorp raised their price objective on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research note on Monday. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Truist Financial boosted their price objective on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research report on Monday. Finally, Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and raised their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average price target of $348.50.

RBC Bearings Stock Up 0.2 %

Shares of NYSE:RBC opened at $369.40 on Tuesday. The company has a 50 day moving average price of $318.64 and a two-hundred day moving average price of $302.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The company has a market capitalization of $11.60 billion, a PE ratio of 50.74, a PEG ratio of 4.81 and a beta of 1.58. RBC Bearings has a 52 week low of $240.36 and a 52 week high of $372.51.

Insider Buying and Selling at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On RBC Bearings

Large investors have recently modified their holdings of the business. Jane Street Group LLC boosted its position in RBC Bearings by 18.5% during the third quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock valued at $4,951,000 after purchasing an additional 2,584 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of RBC Bearings by 41.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock worth $8,896,000 after purchasing an additional 8,725 shares in the last quarter. TimesSquare Capital Management LLC boosted 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 buying an additional 13,395 shares during the last quarter. Holocene Advisors LP grew its stake in shares of RBC Bearings by 69.4% in the third quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company’s stock valued at $3,711,000 after buying an additional 5,078 shares in the last quarter. Finally, State Street Corp increased its holdings in RBC Bearings by 2.4% during the third quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock worth $253,028,000 after buying an additional 19,962 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.