RBC Bearings Incorporated (NYSE:RBC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of RBC Bearings Incorporated (NYSE:RBC) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $361.20.

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

RBC Bearings Price Performance

Shares of RBC stock opened at $357.24 on Friday. The stock has a 50-day moving average price of $328.94 and a 200 day moving average price of $311.44. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 49.07, a PEG ratio of 4.42 and a beta of 1.58. RBC Bearings has a 12 month low of $241.43 and a 12 month high of $372.83.

Insider Activity

In related news, Director Michael H. Ambrose sold 400 shares of RBC Bearings 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 owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Hartnett sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.95, for a total value of $919,875.00. Following the transaction, the chief executive officer now directly owns 320,088 shares in the company, valued at $117,776,379.60. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,900 shares of company stock worth $3,963,031 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Torray Investment Partners LLC boosted 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 valued at $2,533,000 after purchasing an additional 28 shares during the period. Curated Wealth Partners LLC boosted its stake in RBC Bearings by 1.6% in the 4th quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock valued at $595,000 after purchasing an additional 32 shares during the period. Townsquare Capital LLC boosted its stake in RBC Bearings by 0.6% in the 4th quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company’s stock valued at $1,694,000 after purchasing an additional 36 shares during the period. Rafferty Asset Management LLC boosted its stake in RBC Bearings by 6.4% in the 4th quarter. Rafferty Asset Management LLC now owns 713 shares of the industrial products company’s stock valued at $213,000 after purchasing an additional 43 shares during the period. Finally, Argonautica Private Wealth Management Inc. lifted its position in shares of RBC Bearings by 3.4% during 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 acquiring an additional 46 shares during the period.

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.