RBC Bearings (NYSE:RBC) Price Target Raised to $410.00

RBC Bearings (NYSE:RBC) had its target price hoisted by Truist Financial from $351.00 to $410.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other research analysts have also weighed in on the stock. William Blair reissued an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. KeyCorp lifted their price objective on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Bank of America downgraded RBC Bearings from a “buy” rating to a “neutral” rating and increased their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, RBC Bearings has an average rating of “Moderate Buy” and an average target price of $348.50.

RBC Bearings Trading Up 0.2 %

NYSE:RBC opened at $369.40 on Monday. The company’s 50 day moving average is $318.64 and its 200-day moving average is $302.83. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. RBC Bearings has a 12 month low of $240.36 and a 12 month high of $372.51. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of 50.74, a P/E/G ratio of 4.81 and a beta of 1.58.

Insider Buying and Selling

In other news, Director Michael H. Ambrose sold 400 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value of $145,156.00. Following the completion of the transaction, the director now owns 6,728 shares in the company, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by company insiders.

Institutional Trading of RBC Bearings

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBC. Curated Wealth Partners LLC lifted its stake in RBC Bearings by 1.6% during the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock worth $595,000 after purchasing an additional 32 shares during the period. Argonautica Private Wealth Management Inc. raised its holdings in shares of RBC Bearings by 3.4% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company’s stock worth $418,000 after buying an additional 46 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of RBC Bearings by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock worth $273,000 after buying an additional 47 shares during the period. Norden Group LLC lifted its position in shares of RBC Bearings by 6.7% during the 4th quarter. Norden Group LLC now owns 780 shares of the industrial products company’s stock worth $233,000 after buying an additional 49 shares during the period. Finally, Marco Investment Management LLC boosted its stake in RBC Bearings by 6.6% in the 3rd quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company’s stock valued at $242,000 after buying an additional 50 shares in 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.