RBC Bearings (NYSE:RBC) Hits New 1-Year High – What’s Next?

RBC Bearings Incorporated (NYSE:RBC) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $372.77 and last traded at $371.55, with a volume of 34493 shares changing hands. The stock had previously closed at $369.61.

Analysts Set New Price Targets

Several analysts have recently commented on RBC shares. KeyCorp raised their target price on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Morgan Stanley increased their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. Finally, Truist Financial increased their target price on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $361.20.

RBC Bearings Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The firm has a market cap of $11.64 billion, a P/E ratio of 50.90, a PEG ratio of 4.89 and a beta of 1.58. The company has a 50 day moving average of $323.66 and a 200 day moving average of $307.72.

Insider Transactions at RBC Bearings

In related news, CEO Michael J. Hartnett sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.95, for a total value of $919,875.00. Following the transaction, the chief executive officer now directly owns 320,088 shares of the company’s stock, valued at approximately $117,776,379.60. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael H. Ambrose sold 400 shares of the company’s stock in a transaction that occurred 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 directly owns 6,728 shares of the company’s stock, valued at $2,441,523.92. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,900 shares of company stock worth $3,963,031 in the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Trading of RBC Bearings

Several large investors have recently modified their holdings of the company. Blue Trust Inc. grew its position in shares of RBC Bearings by 541.9% in the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 233 shares during the last quarter. Raymond James & Associates grew its holdings in RBC Bearings by 2.6% in the 3rd quarter. Raymond James & Associates now owns 163,312 shares of the industrial products company’s stock valued at $48,892,000 after buying an additional 4,157 shares during the last quarter. Private Advisor Group LLC increased its position in RBC Bearings by 13.4% in the 3rd quarter. Private Advisor Group LLC now owns 1,320 shares of the industrial products company’s stock worth $395,000 after buying an additional 156 shares during the period. YHB Investment Advisors Inc. acquired a new position in shares of RBC Bearings during the third quarter worth approximately $222,000. Finally, Argent Capital Management LLC boosted its position in shares of RBC Bearings by 13.2% in the third quarter. Argent Capital Management LLC now owns 3,398 shares of the industrial products company’s stock valued at $1,017,000 after acquiring an additional 397 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.