RBC Bearings’ (RBC) “Outperform” Rating Reiterated at William Blair

William Blair reaffirmed their outperform rating on shares of RBC Bearings (NYSE:RBC) in a research report released on Tuesday morning,RTT News reports.

A number of other research firms have also weighed in on RBC. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and increased their target price for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Truist Financial boosted their price objective on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target for the company in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, RBC Bearings presently has an average rating of “Moderate Buy” and an average price target of $324.67.

RBC Bearings Trading Down 1.3 %

NYSE RBC opened at $335.11 on Tuesday. RBC Bearings has a twelve month low of $240.36 and a twelve month high of $343.92. The firm has a market capitalization of $10.53 billion, a PE ratio of 49.59, a P/E/G ratio of 4.67 and a beta of 1.51. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average is $301.50 and its 200 day moving average is $290.28.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The firm had revenue of $397.90 million for the quarter, compared to analysts’ expectations of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.07 EPS. Research analysts forecast that RBC Bearings will post 8.94 earnings per share for the current fiscal year.

Insider Transactions at RBC Bearings

In other news, CEO Michael J. Hartnett sold 11,341 shares of RBC Bearings stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $287.52, for a total transaction of $3,260,764.32. Following the sale, the chief executive officer now owns 320,053 shares of the company’s stock, valued at approximately $92,021,638.56. The trade was a 3.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 34,127 shares of company stock valued at $9,839,707 over the last ninety days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On RBC Bearings

Several large investors have recently made changes to their positions in RBC. Marco Investment Management LLC increased its stake in shares of RBC Bearings by 6.6% during the third quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company’s stock worth $242,000 after buying an additional 50 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of RBC Bearings by 2.6% in the third quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company’s stock valued at $633,000 after acquiring an additional 53 shares in the last quarter. SkyView Investment Advisors LLC raised its stake in shares of RBC Bearings by 1.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company’s stock worth $1,084,000 after buying an additional 58 shares in the last quarter. Legacy Advisors LLC lifted its holdings in RBC Bearings by 1.4% in the second quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company’s stock valued at $1,223,000 after acquiring an additional 61 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 75 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.