Truist Financial Increases RBC Bearings (NYSE:RBC) Price Target to $431.00

RBC Bearings (NYSE:RBC - Free Report) had its price target upped by Truist Financial from $405.00 to $431.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the industrial products company's stock.

Separately, Morgan Stanley restated an "overweight" rating and issued a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $394.00.

RBC Bearings Trading Down 1.1%

NYSE:RBC traded down $4.11 on Thursday, reaching $371.48. The company's stock had a trading volume of 80,700 shares, compared to its average volume of 159,155. RBC Bearings has a 12-month low of $260.53 and a 12-month high of $386.41. 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 $11.67 billion, a price-to-earnings ratio of 51.03, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. The stock has a 50 day moving average price of $349.04 and a 200 day moving average price of $337.58.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.13. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The company had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.26 million. During the same quarter in the previous year, the business earned $2.47 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts anticipate that RBC Bearings will post 9.16 EPS for the current fiscal year.

Insider Activity at RBC Bearings

In related news, COO Daniel A. Bergeron sold 31,282 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $380.28, for a total value of $11,895,918.96. Following the sale, the chief operating officer now owns 111,134 shares in the company, valued at approximately $42,262,037.52. The trade was a 21.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Hartnett sold 26,725 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $381.09, for a total value of $10,184,630.25. Following the completion of the sale, the chief executive officer now owns 316,853 shares in the company, valued at $120,749,509.77. This represents a 7.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,378 shares of company stock worth $25,625,987. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RBC Bearings

Large investors have recently bought and sold shares of the stock. NBC Securities Inc. purchased a new stake in RBC Bearings during the 1st quarter worth about $25,000. Advisors Asset Management Inc. purchased a new stake in RBC Bearings during the 1st quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in RBC Bearings by 109.3% during the 1st 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 during the period. Golden State Wealth Management LLC increased its holdings in RBC Bearings by 107.1% during the 1st 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 during the period. Finally, UMB Bank n.a. increased its holdings in RBC Bearings by 80.8% during the 1st 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 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.