RBC Bearings Incorporated (NYSE:RBC) Given Average Rating of “Moderate Buy” by Brokerages

RBC Bearings Incorporated (NYSE:RBC) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $348.50.

Several brokerages have issued reports on RBC. William Blair reissued an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. KeyCorp raised their price target on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Bank of America downgraded RBC Bearings from a “buy” rating to a “neutral” rating and upped their price objective for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Truist Financial lifted their target price on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley increased their price target on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th.

RBC Bearings Price Performance

Shares of RBC opened at $361.80 on Monday. The stock has a market cap of $11.36 billion, a PE ratio of 49.70, a price-to-earnings-growth ratio of 4.90 and a beta of 1.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings has a 1-year low of $240.36 and a 1-year high of $372.51. The firm has a fifty day moving average price of $319.68 and a 200 day moving average price of $303.97.

Insider Activity

In related news, Director Michael H. Ambrose sold 400 shares of the firm’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 value of $145,156.00. Following the completion of the transaction, the director now directly owns 6,728 shares of the company’s stock, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Trading of RBC Bearings

Large investors have recently bought and sold shares of the company. Jane Street Group LLC increased its holdings in RBC Bearings by 18.5% during the 3rd quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock valued at $4,951,000 after acquiring an additional 2,584 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of RBC Bearings by 41.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock worth $8,896,000 after purchasing an additional 8,725 shares in the last quarter. TimesSquare Capital Management LLC raised its position in shares of RBC Bearings by 17.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after purchasing an additional 13,395 shares during the last quarter. Holocene Advisors LP lifted its stake in RBC Bearings by 69.4% in the 3rd quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company’s stock valued at $3,711,000 after buying an additional 5,078 shares in the last quarter. Finally, State Street Corp grew its holdings in RBC Bearings by 2.4% during the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock valued at $253,028,000 after buying an additional 19,962 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.