RBC Bearings (NYSE:RBC) Price Target Raised to $395.00

RBC Bearings (NYSE:RBC) had its price target hoisted by KeyCorp from $375.00 to $395.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

A number of other analysts have also issued reports on RBC. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and increased their price target for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Truist Financial lifted their target price on shares of RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RBC Bearings presently has an average rating of “Moderate Buy” and an average target price of $348.50.

RBC Bearings Stock Up 0.2 %

NYSE:RBC opened at $369.40 on Monday. The business’s fifty day moving average price is $318.64 and its 200 day moving average price is $302.83. The firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of 50.74, a PEG ratio of 4.81 and a beta of 1.58. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. RBC Bearings has a 1-year low of $240.36 and a 1-year high of $372.51.

Insider Activity

In other RBC Bearings news, Director Michael H. Ambrose sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of the sale, the director now owns 6,728 shares of the company’s stock, valued at $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by insiders.

Institutional Trading of RBC Bearings

A number of institutional investors and hedge funds have recently modified their holdings of RBC. UMB Bank n.a. boosted its stake in RBC Bearings by 416.7% during the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 75 shares during the period. R Squared Ltd bought a new stake in shares of RBC Bearings in the fourth quarter valued at approximately $30,000. Golden State Wealth Management LLC acquired a new stake in shares of RBC Bearings in the fourth quarter worth $38,000. Harbor Investment Advisory LLC bought a new position in RBC Bearings during the fourth quarter worth $82,000. Finally, Blue Trust Inc. raised its stake in RBC Bearings by 541.9% during the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 233 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.