Truist Financial Has Lowered Expectations for RBC Bearings (NYSE:RBC) Stock Price

RBC Bearings (NYSE:RBC - Free Report) had its price target lowered by Truist Financial from $410.00 to $375.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company's stock.

Other analysts have also recently issued reports about the company. Morgan Stanley raised their price objective on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. 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, February 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $354.20.

RBC Bearings Stock Performance

RBC stock traded up $5.67 during trading hours on Thursday, reaching $319.23. The stock had a trading volume of 126,806 shares, compared to its average volume of 161,428. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The stock has a 50-day simple moving average of $338.91 and a 200 day simple moving average of $322.75. The stock has a market capitalization of $10.03 billion, a PE ratio of 43.85, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60. RBC Bearings has a fifty-two week low of $241.43 and a fifty-two week high of $372.83.

Insider Activity at RBC Bearings

In other news, CFO Robert M. Sullivan sold 8,000 shares of RBC Bearings stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 11,382 shares in the company, valued at approximately $4,123,129.50. The trade was a 41.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael H. Ambrose sold 400 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the sale, the director now directly owns 6,728 shares in the company, valued at $2,441,523.92. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,900 shares of company stock worth $3,963,031. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On RBC Bearings

Several hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in RBC Bearings during the fourth quarter valued at approximately $88,184,000. Raymond James Financial Inc. acquired a new stake in shares of RBC Bearings during the 4th quarter valued at $71,324,000. Vanguard Group Inc. increased its holdings in RBC Bearings by 8.5% in 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of RBC Bearings by 38,860.9% during the first quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company's stock valued at $64,813,000 after purchasing an additional 200,911 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of RBC Bearings by 32.6% during the fourth quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock worth $159,998,000 after purchasing an additional 131,614 shares during 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.