RBC Bearings (NYSE:RBC) Hits New 52-Week High – What’s Next?

RBC Bearings Incorporated (NYSE:RBC)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $465.80 and last traded at $462.59, with a volume of 254472 shares. The stock had previously closed at $460.17.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RBC shares. Zacks Research downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Truist Financial reaffirmed a “buy” rating and set a $471.00 price objective (up from $455.00) on shares of RBC Bearings in a research note on Monday, November 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 8th. Deutsche Bank Aktiengesellschaft set a $503.00 target price on shares of RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and raised their target price for the stock from $390.00 to $500.00 in a report on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, RBC Bearings presently has an average rating of “Moderate Buy” and an average target price of $459.17.

RBC Bearings Stock Up 0.5%

The company has a 50-day simple moving average of $421.18 and a 200 day simple moving average of $398.16. The company has a market cap of $14.62 billion, a P/E ratio of 56.48, a P/E/G ratio of 3.21 and a beta of 1.53. The company has a current ratio of 3.18, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

RBC Bearings (NYSE:RBC) last released its earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. The business had revenue of $156.21 million during the quarter. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%. On average, equities analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Insider Transactions at RBC Bearings

In related news, Director Steven H. Kaplan sold 700 shares of RBC Bearings stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total transaction of $310,100.00. Following the completion of the sale, the director owned 1,999 shares in the company, valued at $885,557. This trade represents a 25.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John J. Feeney sold 105 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $382.83, for a total transaction of $40,197.15. Following the completion of the transaction, the vice president owned 2,666 shares in the company, valued at $1,020,624.78. This represents a 3.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Assetmark Inc. raised its position in RBC Bearings by 4.6% during the 3rd quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock valued at $220,000 after purchasing an additional 25 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of RBC Bearings by 2.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock worth $383,000 after buying an additional 26 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of RBC Bearings by 27.1% during the third quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company’s stock valued at $48,000 after buying an additional 26 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of RBC Bearings by 0.3% during the third quarter. State of New Jersey Common Pension Fund D now owns 10,070 shares of the industrial products company’s stock valued at $3,930,000 after buying an additional 27 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of RBC Bearings by 12.1% in the third quarter. Allworth Financial LP now owns 259 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 28 shares in 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.