RBC Bearings (NYSE:RBC) Hits New 52-Week High - Should You Buy?

RBC Bearings Incorporated (NYSE:RBC - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $387.24 and last traded at $386.81, with a volume of 30746 shares changing hands. The stock had previously closed at $381.25.

Analyst Ratings Changes

Several research firms have recently weighed in on RBC. Truist Financial upped their price target on shares of RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Morgan Stanley reissued an "overweight" rating and issued a $415.00 price objective (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 given a buy rating to the company's stock. According to MarketBeat, RBC Bearings has an average rating of "Moderate Buy" and a consensus target price of $394.00.

RBC Bearings Stock Performance

The stock's 50-day moving average price is $358.09 and its 200 day moving average price is $339.88. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.26 and a quick ratio of 1.18. The firm has a market cap of $11.98 billion, a P/E ratio of 49.75, a price-to-earnings-growth ratio of 3.96 and a beta of 1.66.

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

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, COO Daniel A. Bergeron sold 3,718 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $382.21, for a total value of $1,421,056.78. Following the completion of the sale, the chief operating officer now owns 111,134 shares in the company, valued at $42,476,526.14. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Hartnett sold 253 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $382.85, for a total transaction of $96,861.05. Following the completion of the sale, the chief executive officer now owns 316,853 shares of the company's stock, valued at approximately $121,307,171.05. This represents a 0.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,973 shares of company stock worth $29,186,872 over the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Trading of RBC Bearings

A number of hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC lifted its stake in shares of RBC Bearings by 2.8% during the 1st quarter. Voya Investment Management LLC now owns 3,549 shares of the industrial products company's stock worth $1,142,000 after buying an additional 95 shares during the last quarter. Strs Ohio acquired a new stake in shares of RBC Bearings during the 1st quarter worth about $1,632,000. Advisors Capital Management LLC lifted its stake in shares of RBC Bearings by 5.4% during the 1st quarter. Advisors Capital Management LLC now owns 29,391 shares of the industrial products company's stock worth $9,457,000 after buying an additional 1,497 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of RBC Bearings by 198.2% during the 1st quarter. Jane Street Group LLC now owns 4,861 shares of the industrial products company's stock worth $1,564,000 after buying an additional 3,231 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of RBC Bearings by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,770 shares of the industrial products company's stock worth $21,163,000 after buying an additional 923 shares during the last quarter.

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.