Brokerages Set RBC Bearings Incorporated (NYSE:RBC) Price Target at $270.14

Shares of RBC Bearings Incorporated (NYSE:RBCGet Free Report) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $275.86.

RBC has been the subject of a number of research analyst reports. Bank of America upgraded shares of RBC Bearings from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $230.00 to $280.00 in a research note on Wednesday, November 29th. The Goldman Sachs Group lifted their price target on shares of RBC Bearings from $229.00 to $256.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. Truist Financial lifted their price target on shares of RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Citigroup boosted their target price on shares of RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Wells Fargo & Company boosted their target price on shares of RBC Bearings from $235.00 to $240.00 and gave the company an “equal weight” rating in a research report on Monday, November 13th.

Check Out Our Latest Stock Analysis on RBC

Insiders Place Their Bets

In other RBC Bearings news, Director Michael H. Ambrose sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $277.80, for a total value of $83,340.00. Following the completion of the transaction, the director now directly owns 6,800 shares in the company, valued at $1,889,040. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Michael H. Ambrose sold 300 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $277.80, for a total value of $83,340.00. Following the transaction, the director now owns 6,800 shares of the company’s stock, valued at $1,889,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Hartnett sold 16,530 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $260.54, for a total transaction of $4,306,726.20. Following the completion of the transaction, the chief executive officer now directly owns 293,447 shares in the company, valued at approximately $76,454,681.38. The disclosure for this sale can be found here. Insiders sold a total of 47,091 shares of company stock worth $12,049,813 over the last three months. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RBC Bearings

A number of hedge funds have recently bought and sold shares of the business. Principal Securities Inc. purchased a new stake in shares of RBC Bearings in the fourth quarter valued at $30,000. First Capital Advisors Group LLC. bought a new position in RBC Bearings during the 2nd quarter worth about $26,000. LWM Advisory Services LLC bought a new position in RBC Bearings during the 3rd quarter worth about $31,000. Compass Wealth Management LLC bought a new position in RBC Bearings during the 1st quarter worth about $34,000. Finally, Stephens Inc. AR bought a new position in RBC Bearings during the 1st quarter worth about $36,000.

RBC Bearings Stock Up 0.9 %

Shares of RBC Bearings stock opened at $268.50 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.12 and a current ratio of 3.28. The stock has a market capitalization of $7.83 billion, a PE ratio of 44.90, a price-to-earnings-growth ratio of 5.57 and a beta of 1.46. RBC Bearings has a 52-week low of $195.18 and a 52-week high of $288.16. The company has a 50-day simple moving average of $272.97 and a two-hundred day simple moving average of $246.44.

About RBC Bearings

(Get Free Report

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.

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Analyst Recommendations for RBC Bearings (NYSE:RBC)

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