RBC Bearings (NYSE:RBC) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Research analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of RBC Bearings (NYSE:RBC - Get Free Report) in a research note issued on Wednesday, MarketBeat reports. The brokerage set a "buy" rating and a $480.00 price target on the industrial products company's stock. Deutsche Bank Aktiengesellschaft's price objective would suggest a potential upside of 20.87% from the company's current price.

Several other brokerages have also weighed in on RBC. Truist Financial increased their target price on RBC Bearings from $405.00 to $431.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. KeyCorp increased their target price on RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research report on Tuesday. The Goldman Sachs Group increased their target price on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $415.00 price target (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $421.17.

RBC Bearings Trading Up 0.0%

Shares of RBC Bearings stock traded up $0.10 during trading hours on Wednesday, reaching $397.13. 182,095 shares of the company's stock were exchanged, compared to its average volume of 160,440. RBC Bearings has a 52-week low of $260.53 and a 52-week high of $402.22. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 42.91, a price-to-earnings-growth ratio of 4.04 and a beta of 1.65. The company has a fifty day moving average of $375.94 and a 200-day moving average of $348.08. The company has a current ratio of 3.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.30.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.13. The company had revenue of $437.70 million for the quarter, compared to analyst estimates of $440.26 million. RBC Bearings had a return on equity of 10.08% and a net margin of 15.05%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.47 EPS. Sell-side analysts forecast that RBC Bearings will post 9.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael H. Ambrose sold 595 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $367.32, for a total transaction of $218,555.40. Following the completion of the sale, the director directly owned 6,985 shares in the company, valued at $2,565,730.20. This trade represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Hartnett sold 9,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $371.37, for a total value of $3,342,330.00. Following the sale, the chief executive officer owned 302,853 shares of the company's stock, valued at $112,470,518.61. This represents a 2.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,973 shares of company stock valued at $29,186,872 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of RBC Bearings

Large investors have recently modified their holdings of the business. NBC Securities Inc. acquired a new position in RBC Bearings in the first quarter worth about $25,000. Advisors Asset Management Inc. acquired a new position in RBC Bearings in the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in RBC Bearings by 109.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company's stock worth $36,000 after purchasing an additional 59 shares in the last quarter. Golden State Wealth Management LLC grew its stake in RBC Bearings by 107.1% in the first quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company's stock worth $85,000 after purchasing an additional 136 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in RBC Bearings by 80.8% in the first quarter. UMB Bank n.a. now owns 311 shares of the industrial products company's stock worth $100,000 after purchasing an additional 139 shares in the last quarter.

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.