Brokerages Set RBC Bearings Incorporated (NYSE:RBC) Target Price at $459.17

Shares of RBC Bearings Incorporated (NYSE:RBC) have received an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $459.1667.

RBC has been the topic of several research analyst reports. Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and lifted their target price for the company from $390.00 to $500.00 in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday. Zacks Research lowered RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $503.00 target price on RBC Bearings and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $471.00 price target (up from $455.00) on shares of RBC Bearings in a research note on Monday, November 3rd.

Insiders Place Their Bets

In other news, Director Steven H. Kaplan sold 700 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total value of $310,100.00. Following the transaction, the director directly owned 1,999 shares of the company’s stock, valued at approximately $885,557. This trade represents a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP John J. Feeney sold 105 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $382.83, for a total transaction of $40,197.15. Following the transaction, the vice president owned 2,666 shares in the company, valued at $1,020,624.78. The trade was a 3.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.90% of the company’s stock.

Institutional Trading of RBC Bearings

Hedge funds have recently bought and sold shares of the business. Artisan Partners Limited Partnership acquired a new position in shares of RBC Bearings during the 2nd quarter worth approximately $157,190,000. Norges Bank purchased a new position in RBC Bearings during the second quarter worth approximately $137,078,000. Invesco Ltd. boosted its stake in RBC Bearings by 60.5% during the third quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock worth $148,763,000 after buying an additional 143,710 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new position in RBC Bearings during the second quarter worth $39,818,000. Finally, First Trust Advisors LP grew its holdings in RBC Bearings by 36.4% in the 3rd quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company’s stock valued at $137,669,000 after buying an additional 94,203 shares in the last quarter.

RBC Bearings Stock Performance

NYSE RBC opened at $437.16 on Friday. The company has a current ratio of 3.18, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. RBC Bearings has a twelve month low of $290.56 and a twelve month high of $449.60. The stock has a 50-day moving average of $414.81 and a 200 day moving average of $395.56. The stock has a market capitalization of $13.82 billion, a price-to-earnings ratio of 53.38, a PEG ratio of 3.13 and a beta of 1.53.

RBC Bearings (NYSE:RBC) last announced its earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%.The business had revenue of $156.21 million during the quarter. Sell-side analysts anticipate that RBC Bearings will post 9.16 EPS for the current fiscal year.

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.