RBC Bearings (NYSE:RBC) Price Target Raised to $395.00

RBC Bearings (NYSE:RBC) had its price objective lifted by KeyCorp from $375.00 to $395.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other research firms have also recently issued reports on RBC. Truist Financial raised their target price on RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Finally, Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and boosted 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $348.50.

RBC Bearings Stock Up 0.2 %

NYSE:RBC opened at $369.40 on Monday. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $318.64 and a 200-day moving average of $302.83. The firm has a market capitalization of $11.60 billion, a PE ratio of 50.74, a price-to-earnings-growth ratio of 4.81 and a beta of 1.58. RBC Bearings has a 52 week low of $240.36 and a 52 week high of $372.51.

Insider Activity at RBC Bearings

In other news, Director Michael H. Ambrose sold 400 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total value of $145,156.00. Following the sale, the director now owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RBC. Curated Wealth Partners LLC boosted its stake in shares of RBC Bearings by 1.6% during the 4th quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock worth $595,000 after acquiring an additional 32 shares in the last quarter. Argonautica Private Wealth Management Inc. boosted its position 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 valued at $418,000 after purchasing an additional 46 shares during the period. CIBC Asset Management Inc increased its stake in RBC Bearings by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock worth $273,000 after purchasing an additional 47 shares in the last quarter. Norden Group LLC raised its holdings in 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 lifted its stake in RBC Bearings by 6.6% during the third 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.