Morgan Stanley Issues Positive Forecast for RBC Bearings (NYSE:RBC) Stock Price

RBC Bearings (NYSE:RBC) had its target price increased by Morgan Stanley from $360.00 to $390.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the company. Truist Financial increased their price target on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research note on Monday. KeyCorp raised their target price on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Finally, Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and raised their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $348.50.

RBC Bearings Trading Down 1.3 %

NYSE:RBC opened at $364.78 on Tuesday. RBC Bearings has a 1 year low of $240.36 and a 1 year high of $372.51. The stock has a market cap of $11.46 billion, a price-to-earnings ratio of 50.11, a PEG ratio of 4.81 and a beta of 1.58. The business has a fifty day moving average of $319.15 and a 200-day moving average of $303.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43.

Insider Activity

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

Institutional Investors Weigh In On RBC Bearings

Several hedge funds have recently bought and sold shares of RBC. UMB Bank n.a. lifted its stake in RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 75 shares in the last quarter. R Squared Ltd acquired a new position in RBC Bearings in the 4th quarter worth about $30,000. Golden State Wealth Management LLC acquired a new position in RBC Bearings in the 4th quarter worth about $38,000. Harbor Investment Advisory LLC acquired a new position in RBC Bearings in the 4th quarter worth about $82,000. Finally, Blue Trust Inc. increased its position in RBC Bearings by 541.9% in the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 233 shares during the last quarter.

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.