By otakuyassine3@gmail.com 
RBC Bearings Incorporated (NYSE:RBC – Get Free Report) Director Michael H. Ambrose sold 400 shares of the firm’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 transaction of $145,156.00. Following the sale, the director now owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
RBC Bearings Price Performance
NYSE:RBC traded up $0.58 during mid-day trading on Wednesday, reaching $369.40. 163,670 shares of the company were exchanged, compared to its average volume of 163,981. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $372.51. The company has a fifty day moving average of $318.05 and a 200 day moving average of $302.36. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The stock has a market cap of $11.60 billion, a PE ratio of 50.74, a PEG ratio of 4.81 and a beta of 1.58.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Jennison Associates LLC grew its stake in shares of RBC Bearings by 170.2% during the 3rd quarter. Jennison Associates LLC now owns 118,240 shares of the industrial products company’s stock worth $35,399,000 after acquiring an additional 74,474 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of RBC Bearings in the third quarter valued at $20,657,000. Allspring Global Investments Holdings LLC grew its stake in shares of RBC Bearings by 39.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company’s stock valued at $66,247,000 after buying an additional 62,706 shares in the last quarter. Douglas Lane & Associates LLC grew its stake in shares of RBC Bearings by 54.0% in the third quarter. Douglas Lane & Associates LLC now owns 126,073 shares of the industrial products company’s stock valued at $37,744,000 after buying an additional 44,211 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its stake in shares of RBC Bearings by 12.6% in the third quarter. Champlain Investment Partners LLC now owns 365,054 shares of the industrial products company’s stock valued at $109,290,000 after buying an additional 40,724 shares in the last quarter.
Analyst Ratings Changes
Several brokerages recently weighed in on RBC. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Truist Financial lifted their price target on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research report on Monday. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price target for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. Morgan Stanley lifted their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, KeyCorp upped their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, RBC Bearings presently has an average rating of “Moderate Buy” and an average target price of $348.50.
View Our Latest Stock Analysis on RBC Bearings
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.
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