Deutsche Bank Aktiengesellschaft Begins Coverage on RBC Bearings (NYSE:RBC)

Research analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of RBC Bearings (NYSE:RBC - Get Free Report) in a report released on Wednesday, Marketbeat reports. The firm set a "buy" rating and a $480.00 price target on the industrial products company's stock. Deutsche Bank Aktiengesellschaft's price target indicates a potential upside of 20.66% from the company's current price.

RBC has been the subject of several other research reports. Truist Financial lifted their target price on shares of RBC Bearings from $405.00 to $431.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. KeyCorp upped their price objective on shares of RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a research note on Tuesday. Morgan Stanley restated an "overweight" rating and set a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Finally, The Goldman Sachs Group increased their target price on shares of RBC Bearings from $375.00 to $416.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $421.17.

RBC Bearings Stock Up 2.1%

NYSE:RBC traded up $8.26 during trading hours on Wednesday, reaching $397.83. The company's stock had a trading volume of 195,062 shares, compared to its average volume of 160,952. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.26 and a quick ratio of 1.18. RBC Bearings has a one year low of $260.53 and a one year high of $400.88. The business's 50-day moving average is $374.01 and its 200-day moving average is $346.71. The company has a market cap of $12.50 billion, a price-to-earnings ratio of 51.87, a price-to-earnings-growth ratio of 3.82 and a beta of 1.65.

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

Insider Activity at RBC Bearings

In related news, Director Steven H. Kaplan sold 400 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $381.30, for a total transaction of $152,520.00. Following the sale, the director directly owned 2,499 shares of the company's stock, valued at approximately $952,868.70. This represents a 13.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Hartnett sold 26,725 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $381.09, for a total transaction of $10,184,630.25. Following the sale, the chief executive officer directly owned 316,853 shares in the company, valued at $120,749,509.77. This trade represents a 7.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 owned by company insiders.

Institutional Trading of RBC Bearings

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of RBC Bearings by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock worth $879,149,000 after purchasing an additional 229,466 shares during the period. Durable Capital Partners LP increased its position in RBC Bearings by 1.9% during the fourth quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company's stock valued at $787,141,000 after acquiring an additional 48,287 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of RBC Bearings by 0.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,097,321 shares of the industrial products company's stock valued at $328,253,000 after purchasing an additional 2,884 shares during the period. Geneva Capital Management LLC boosted its stake in shares of RBC Bearings by 1.0% during the first quarter. Geneva Capital Management LLC now owns 589,418 shares of the industrial products company's stock valued at $189,657,000 after purchasing an additional 5,753 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in RBC Bearings by 2.0% in the first quarter. Ameriprise Financial Inc. now owns 545,412 shares of the industrial products company's stock worth $175,515,000 after acquiring an additional 10,531 shares during the period.

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.