RBC Bearings (NYSE:RBC) Reaches New 1-Year High - Should You Buy?

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $372.77 and last traded at $371.55, with a volume of 34493 shares trading hands. The stock had previously closed at $369.61.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RBC shares. Truist Financial increased 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. KeyCorp upped their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Bank of America downgraded shares of RBC Bearings from a "buy" rating to a "neutral" rating and upped their price target for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. William Blair restated an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Finally, Morgan Stanley increased their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, RBC Bearings presently has a consensus rating of "Moderate Buy" and an average price target of $361.20.

RBC Bearings Price Performance

The business's fifty day moving average price is $325.71 and its 200 day moving average price is $309.16. The stock has a market cap of $11.22 billion, a P/E ratio of 49.09, a PEG ratio of 4.98 and a beta of 1.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

Insider Activity at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the completion of the transaction, the chief executive officer now owns 320,088 shares in the company, valued at approximately $117,776,379.60. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $362.25, for a total transaction of $2,898,000.00. Following the transaction, the chief financial officer now owns 11,382 shares of the company's stock, valued at approximately $4,123,129.50. The trade was a 41.28 % 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 in the last quarter. 2.60% of the stock is owned by insiders.

Institutional Trading of RBC Bearings

Several large investors have recently modified their holdings of the stock. Norges Bank bought a new position in RBC Bearings in the 4th quarter valued at about $88,184,000. Raymond James Financial Inc. purchased a new stake in RBC Bearings during the fourth quarter worth about $71,324,000. Vanguard Group Inc. increased its stake in shares of RBC Bearings by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock worth $879,149,000 after purchasing an additional 229,466 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in RBC Bearings by 32.6% during the fourth quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock valued at $159,998,000 after purchasing an additional 131,614 shares during the period. Finally, First Trust Advisors LP grew its holdings in RBC Bearings by 63.5% during the fourth quarter. First Trust Advisors LP now owns 315,661 shares of the industrial products company's stock valued at $94,427,000 after purchasing an additional 122,552 shares during the period.

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.