RBC Bearings (NYSE:RBC) Given New $410.00 Price Target at Truist Financial

RBC Bearings (NYSE:RBC - Get Free Report) had its price target raised by equities researchers at Truist Financial from $351.00 to $410.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Truist Financial's price objective indicates a potential upside of 12.40% from the stock's current price.

RBC has been the topic of several other reports. William Blair reaffirmed an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. KeyCorp increased their price objective 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, Bank of America cut shares of RBC Bearings from a "buy" rating to a "neutral" rating and upped their target price for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, RBC Bearings has a consensus rating of "Moderate Buy" and a consensus target price of $348.50.

RBC Bearings Price Performance

RBC stock traded down $4.72 during mid-day trading on Monday, hitting $364.78. The company had a trading volume of 141,051 shares, compared to its average volume of 161,360. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 50.11, a P/E/G ratio of 4.81 and a beta of 1.58. The company has a 50-day moving average price of $318.64 and a 200 day moving average price of $302.83. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. RBC Bearings has a 12-month low of $240.36 and a 12-month high of $372.51.

Insiders Place Their Bets

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the business's stock in a transaction dated 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 directly owns 6,728 shares in the company, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.60% of the company's stock.

Institutional Trading of RBC Bearings

A number of institutional investors have recently made changes to their positions in RBC. Torray Investment Partners LLC raised its stake in RBC Bearings by 0.3% in the 4th quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company's stock worth $2,533,000 after acquiring an additional 28 shares during the last quarter. Curated Wealth Partners LLC grew its position in RBC Bearings by 1.6% during the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company's stock valued at $595,000 after buying an additional 32 shares during the period. Argonautica Private Wealth Management Inc. increased its stake in shares of RBC Bearings by 3.4% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company's stock valued at $418,000 after purchasing an additional 46 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of RBC Bearings by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company's stock valued at $273,000 after buying an additional 47 shares in the last quarter. Finally, Norden Group LLC raised its position in shares of RBC Bearings by 6.7% during the 4th quarter. Norden Group LLC now owns 780 shares of the industrial products company's stock worth $233,000 after purchasing an additional 49 shares during the last quarter.

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.