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

Shares of RBC Bearings Incorporated (NYSE:RBC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven analysts that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $361.20.

Several brokerages recently commented on RBC. KeyCorp raised their target price on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Morgan Stanley lifted their price objective 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. Truist Financial upped their target price 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. Bank of America lowered shares of RBC Bearings from a "buy" rating to a "neutral" rating and raised their price target for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Finally, William Blair reiterated an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th.

Insider Transactions at RBC Bearings

In other RBC Bearings 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 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 $2,441,523.92. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 in the company, valued at $117,776,379.60. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,900 shares of company stock valued at $3,963,031. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On RBC Bearings

Hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd bought a new stake in shares of RBC Bearings in the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC acquired a new position in shares of RBC Bearings during the fourth quarter valued at $38,000. UMB Bank n.a. grew its position in shares of RBC Bearings by 84.9% during the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock worth $51,000 after acquiring an additional 79 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of RBC Bearings in the 4th quarter worth about $82,000. Finally, Quarry LP boosted its stake in RBC Bearings by 1,003.7% during the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company's stock valued at $89,000 after purchasing an additional 271 shares during the period.

RBC Bearings Stock Down 1.1 %

NYSE RBC traded down $4.00 during trading hours on Friday, hitting $355.20. The company had a trading volume of 86,385 shares, compared to its average volume of 146,120. The firm's 50 day moving average is $330.00 and its 200 day moving average is $312.46. 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 fifty-two week low of $241.43 and a fifty-two week high of $372.83. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 48.79, a P/E/G ratio of 4.42 and a beta of 1.58.

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.