Truist Financial Has Lowered Expectations for RBC Bearings (NYSE:RBC) Stock Price

RBC Bearings (NYSE:RBC) had its price objective cut by stock analysts at Truist Financial from $410.00 to $375.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective would suggest a potential upside of 16.65% from the company’s previous close.

RBC has been the topic of a number of other research reports. Morgan Stanley lifted their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. KeyCorp lifted their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $354.20.

RBC Bearings Price Performance

Shares of RBC Bearings stock opened at $321.48 on Thursday. The company has a market cap of $10.10 billion, a PE ratio of 44.16, a P/E/G ratio of 4.42 and a beta of 1.60. The business has a 50 day moving average of $339.89 and a 200 day moving average of $322.21. RBC Bearings has a 52 week low of $241.43 and a 52 week high of $372.83. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

Insider Activity at RBC Bearings

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $362.25, for a total transaction of $2,898,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,382 shares in the company, valued at approximately $4,123,129.50. This trade represents a 41.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the company’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 completion of the transaction, the director now owns 6,728 shares in the company, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock valued at $3,963,031 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of RBC Bearings

Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in shares of RBC Bearings by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company’s stock valued at $59,581,000 after buying an additional 1,103 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of RBC Bearings by 17.5% during the fourth quarter. GAMMA Investing LLC now owns 517 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 77 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in RBC Bearings by 39.3% during 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 purchasing an additional 62,706 shares during the period. Callan Family Office LLC grew its position in RBC Bearings by 251.7% in the 4th quarter. Callan Family Office LLC now owns 2,416 shares of the industrial products company’s stock worth $723,000 after purchasing an additional 1,729 shares during the period. Finally, Advantage Alpha Capital Partners LP raised its stake in RBC Bearings by 35.3% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 18,514 shares of the industrial products company’s stock valued at $5,545,000 after buying an additional 4,835 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.