Shares of RBC Bearings Incorporated (NYSE:RBC - Get Free Report) saw unusually-strong trading volume on Monday after Morgan Stanley raised their price target on the stock from $360.00 to $390.00. Morgan Stanley currently has an overweight rating on the stock. Approximately 224,035 shares traded hands during trading, an increase of 70% from the previous session's volume of 131,872 shares.The stock last traded at $355.04 and had previously closed at $348.75.
Other equities research analysts have also issued reports about the company. Bank of America lowered RBC Bearings from a "buy" rating to a "neutral" rating and raised their price target for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. William Blair reiterated an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. KeyCorp increased their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Truist Financial raised their price target on RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $348.50.
Get Our Latest Stock Report on RBC
Insider Buying and Selling
In other news, Director Michael H. Ambrose sold 400 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the sale, the director now directly owns 6,728 shares of the company's stock, valued at $2,441,523.92. This represents a 5.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in RBC. State Street Corp boosted its stake in shares of RBC Bearings by 2.4% in the third quarter. State Street Corp now owns 845,175 shares of the industrial products company's stock worth $253,028,000 after acquiring an additional 19,962 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in RBC Bearings by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company's stock worth $221,793,000 after acquiring an additional 12,375 shares during the last quarter. Geneva Capital Management LLC raised its holdings in RBC Bearings by 1.4% in the 3rd quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company's stock valued at $176,829,000 after acquiring an additional 8,012 shares during the last quarter. Geode Capital Management LLC lifted its position in RBC Bearings by 1.1% during the third quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company's stock worth $144,490,000 after buying an additional 5,040 shares in the last quarter. Finally, Port Capital LLC grew its holdings in RBC Bearings by 0.9% in the 3rd quarter. Port Capital LLC now owns 385,101 shares of the industrial products company's stock valued at $115,292,000 after buying an additional 3,525 shares in the last quarter.
RBC Bearings Stock Performance
The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average price of $318.64 and a 200 day moving average price of $302.83. The firm has a market cap of $11.46 billion, a PE ratio of 50.11, a price-to-earnings-growth ratio of 4.81 and a beta of 1.58.
About RBC Bearings
(
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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.
Further Reading
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