Weekly Investment Analysts’ Ratings Changes for RBC Bearings (RBC)

by · The Markets Daily

RBC Bearings (NYSE: RBC) recently received a number of ratings updates from brokerages and research firms:

  • 11/26/2024 – RBC Bearings had its “outperform” rating reaffirmed by analysts at William Blair.
  • 11/22/2024 – RBC Bearings was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating. They now have a $375.00 price target on the stock.
  • 11/21/2024 – RBC Bearings was downgraded by analysts at Bank of America Co. from a “buy” rating to a “neutral” rating. They now have a $335.00 price target on the stock, up previously from $330.00.
  • 11/20/2024 – RBC Bearings had its price target raised by analysts at Truist Financial Co. from $315.00 to $347.00. They now have a “buy” rating on the stock.

RBC Bearings Price Performance

Shares of NYSE:RBC traded down $0.27 on Wednesday, reaching $339.70. 28,188 shares of the company traded hands, compared to its average volume of 143,731. The company’s 50 day moving average is $298.76 and its 200-day moving average is $289.10. The stock has a market capitalization of $10.67 billion, a PE ratio of 49.59, a P/E/G ratio of 4.66 and a beta of 1.51. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. RBC Bearings Incorporated has a fifty-two week low of $240.36 and a fifty-two week high of $343.66.

RBC Bearings (NYSE:RBC – Get Free Report) last released its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.01). RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The company had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same quarter in the prior year, the company posted $2.07 EPS. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, analysts anticipate that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael J. Hartnett sold 3,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $284.23, for a total transaction of $852,690.00. Following the transaction, the chief executive officer now owns 294,120 shares in the company, valued at approximately $83,597,727.60. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 34,127 shares of company stock valued at $9,839,707 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RBC Bearings

A number of hedge funds have recently modified their holdings of the stock. Jennison Associates LLC raised its position in RBC Bearings by 170.2% in the 3rd quarter. Jennison Associates LLC now owns 118,240 shares of the industrial products company’s stock worth $35,399,000 after purchasing an additional 74,474 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in RBC Bearings in the third quarter worth about $20,657,000. Dimensional Fund Advisors LP raised its holdings in RBC Bearings by 22.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company’s stock worth $93,626,000 after purchasing an additional 64,217 shares during the last quarter. American Century Companies Inc. lifted its holdings in RBC Bearings by 30.4% in the second quarter. American Century Companies Inc. now owns 206,630 shares of the industrial products company’s stock valued at $55,745,000 after buying an additional 48,209 shares during the period. Finally, Douglas Lane & Associates LLC raised its position in shares of RBC Bearings by 123.9% during the 2nd quarter. Douglas Lane & Associates LLC now owns 81,862 shares of the industrial products company’s stock valued at $22,085,000 after acquiring an additional 45,294 shares during the last quarter.

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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