Brokerages Set RBC Bearings Incorporated (NYSE:RBC) Price Target at $398.40

Shares of RBC Bearings Incorporated (NYSE:RBC) have received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $398.40.

A number of equities analysts have issued reports on RBC shares. Truist Financial increased their price objective on RBC Bearings from $405.00 to $431.00 and gave the stock a “buy” rating in a report 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. Finally, The Goldman Sachs Group raised their price target on RBC Bearings from $375.00 to $416.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th.

Insider Buying and Selling

In related news, COO Daniel A. Bergeron sold 31,282 shares of RBC Bearings stock in a transaction dated 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 completion of the sale, the chief operating officer directly owned 111,134 shares in the company, valued at approximately $42,262,037.52. This trade represents a 21.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven H. Kaplan sold 400 shares of RBC Bearings stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $381.30, for a total value of $152,520.00. Following the completion of the sale, the director owned 2,499 shares of the company’s stock, valued at $952,868.70. The trade was a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,973 shares of company stock valued at $29,186,872 over the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On RBC Bearings

Several large investors have recently bought and sold shares of RBC. NBC Securities Inc. purchased a new position in RBC Bearings in the first quarter worth about $25,000. Advisors Asset Management Inc. bought a new position in shares of RBC Bearings during the 1st quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of 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 valued at $36,000 after purchasing an additional 59 shares during the last quarter. Golden State Wealth Management LLC grew its position in RBC Bearings by 107.1% in the 1st 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 during the last quarter. Finally, UMB Bank n.a. grew its position in RBC Bearings by 80.8% in the 1st quarter. UMB Bank n.a. now owns 311 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 139 shares during the last quarter.

RBC Bearings Stock Performance

Shares of RBC stock opened at $377.04 on Tuesday. 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 has a fifty-two week low of $260.53 and a fifty-two week high of $393.51. The stock has a 50 day moving average price of $371.71 and a two-hundred day moving average price of $345.67. The company has a market capitalization of $11.84 billion, a P/E ratio of 49.16, a PEG ratio of 3.84 and a beta of 1.65.

RBC Bearings (NYSE:RBC) last announced 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. The company had revenue of $437.70 million during the quarter, compared to the consensus estimate of $440.26 million. RBC Bearings had a return on equity of 10.08% and a net margin of 15.05%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.47 earnings per share. Analysts expect that RBC Bearings will post 9.16 earnings per share for the current year.

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.