RBC Bearings (NYSE:RBC) Given New $416.00 Price Target at The Goldman Sachs Group

RBC Bearings (NYSE:RBC - Free Report) had its price target upped by The Goldman Sachs Group from $375.00 to $416.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the industrial products company's stock.

RBC has been the topic of several other research reports. Truist Financial upped their price target on RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Morgan Stanley reiterated an "overweight" rating and issued a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $398.40.

RBC Bearings Trading Down 1.3%

Shares of RBC Bearings stock traded down $4.99 during trading hours on Tuesday, hitting $381.99. The company's stock had a trading volume of 171,906 shares, compared to its average volume of 161,041. RBC Bearings has a twelve month low of $260.53 and a twelve month high of $393.51. The firm has a fifty day moving average of $369.12 and a 200-day moving average of $343.83. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of 49.80, a P/E/G ratio of 3.95 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.18 and a current ratio of 3.26.

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

Insider Transactions at RBC Bearings

In related news, Director Steven H. Kaplan sold 400 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $381.30, for a total value of $152,520.00. Following the sale, the director owned 2,499 shares in the company, valued at approximately $952,868.70. The trade was a 13.80% 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 9,000 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was 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 in the company, valued at approximately $112,470,518.61. This trade represents a 2.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,973 shares of company stock worth $29,186,872 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RBC Bearings

Large investors have recently bought and sold shares of the stock. Park Avenue Securities LLC increased its holdings in RBC Bearings by 50.8% during the 1st quarter. Park Avenue Securities LLC now owns 2,647 shares of the industrial products company's stock worth $852,000 after purchasing an additional 892 shares during the period. Deutsche Bank AG increased its holdings in RBC Bearings by 2.9% during the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock worth $529,000 after purchasing an additional 49 shares during the period. Bessemer Group Inc. increased its holdings 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 purchasing an additional 19,133 shares during the period. GAMMA Investing LLC increased its holdings in RBC Bearings by 21.1% during the 1st quarter. GAMMA Investing LLC now owns 626 shares of the industrial products company's stock worth $201,000 after purchasing an additional 109 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in RBC Bearings by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 3,660 shares of the industrial products company's stock worth $1,177,000 after purchasing an additional 95 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.