RBC Bearings Incorporated (NYSE:RBC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seven research firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $354.20.

Several brokerages have recently commented on RBC. Morgan Stanley upped their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Truist Financial dropped their price objective on RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, KeyCorp increased their target price on RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd.

RBC Bearings Trading Up 2.9 %

Shares of NYSE:RBC traded up $9.30 during midday trading on Friday, reaching $334.78. 50,420 shares of the company's stock were exchanged, compared to its average volume of 160,694. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 46.04, a P/E/G ratio of 4.42 and a beta of 1.60. RBC Bearings has a fifty-two week low of $241.43 and a fifty-two week high of $372.83. The firm's 50 day simple moving average is $337.28 and its two-hundred day simple moving average is $322.75. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

Insider Transactions at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 2,500 shares of RBC Bearings stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.95, for a total transaction of $919,875.00. Following the completion of the sale, the chief executive officer now directly owns 320,088 shares of the company's stock, valued at $117,776,379.60. The trade was a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert M. Sullivan sold 8,000 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $362.25, for a total value of $2,898,000.00. Following the transaction, the chief financial officer now directly owns 11,382 shares of the company's stock, valued at approximately $4,123,129.50. This represents a 41.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,900 shares of company stock valued at $3,963,031. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RBC. Golden State Wealth Management LLC boosted 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 valued at $85,000 after acquiring an additional 136 shares in the last quarter. Bessemer Group Inc. grew its stake in RBC Bearings by 24.5% during the 1st quarter. Bessemer Group Inc. now owns 97,070 shares of the industrial products company's stock worth $31,234,000 after buying an additional 19,133 shares during the last quarter. Longboard Asset Management LP acquired a new position in RBC Bearings during the first quarter worth approximately $213,000. XML Financial LLC purchased a new stake in RBC Bearings in the first quarter valued at approximately $203,000. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of RBC Bearings by 41.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,582 shares of the industrial products company's stock valued at $1,474,000 after acquiring an additional 1,339 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.