RBC Bearings Incorporated (NYSE:RBC) Receives Average Recommendation of "Moderate Buy" from Analysts

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) has received a consensus rating of "Moderate Buy" from the seven analysts that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $361.20.

A number of equities research analysts have commented on the company. Morgan Stanley raised their price target on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. KeyCorp upped their price target on RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, Truist Financial lifted their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the company a "buy" rating in a research report on Monday, February 3rd.

RBC Bearings Stock Performance

Shares of NYSE:RBC traded down $6.67 during mid-day trading on Tuesday, reaching $326.09. 86,191 shares of the company traded hands, compared to its average volume of 155,690. The company's 50 day moving average price is $344.99 and its 200-day moving average price is $318.72. The firm has a market cap of $10.24 billion, a PE ratio of 44.79, a PEG ratio of 4.42 and a beta of 1.72. RBC Bearings has a 52 week low of $241.43 and a 52 week high of $372.83. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

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Insider Buying and Selling

In related news, CFO Robert M. Sullivan sold 8,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $362.25, for a total value of $2,898,000.00. Following the sale, the chief financial officer now directly owns 11,382 shares of the company's stock, valued at $4,123,129.50. This represents a 41.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of the sale, the director now directly owns 6,728 shares of the company's stock, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock worth $3,963,031 over the last three months. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On RBC Bearings

Institutional investors and hedge funds have recently modified their holdings of the business. R Squared Ltd bought a new stake in shares of RBC Bearings during the fourth quarter worth $30,000. Golden State Wealth Management LLC purchased a new stake in RBC Bearings in the 4th quarter valued at about $38,000. UMB Bank n.a. grew its stake in RBC Bearings by 84.9% in the 4th 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 in the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of RBC Bearings during the fourth quarter worth approximately $82,000. Finally, Quarry LP raised its stake in shares of RBC Bearings by 1,003.7% during the third quarter. Quarry LP now owns 298 shares of the industrial products company's stock valued at $89,000 after acquiring an additional 271 shares in 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.