RBC Bearings Inc. (ROLL) Insider Sells $513,201.04 in Stock
RBC Bearings Inc. (NASDAQ:ROLL) insider Michael J. Hartnett sold 6,742 shares of RBC Bearings stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $76.12, for a total transaction of $513,201.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of RBC Bearings Inc. (NASDAQ:ROLL) opened at 74.08 on Wednesday. RBC Bearings Inc. has a 52-week low of $54.38 and a 52-week high of $87.82. The firm has a 50-day moving average of $76.84 and a 200 day moving average of $74.91. The stock has a market capitalization of $1.73 billion, a PE ratio of 25.46 and a beta of 1.19.
RBC Bearings (NASDAQ:ROLL) last issued its earnings results on Thursday, August 4th. The company reported $0.77 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.01. The business earned $154.58 million during the quarter, compared to analyst estimates of $152.83 million. RBC Bearings had a net margin of 11.24% and a return on equity of 12.05%. RBC Bearings’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. Equities research analysts forecast that RBC Bearings Inc. will post $3.34 EPS for the current fiscal year.
Separately, Zacks Investment Research raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a research report on Friday, September 9th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $74.80.
Large investors have recently modified their holdings of the stock. Henderson Group PLC boosted its stake in shares of RBC Bearings by 57.5% in the second quarter. Henderson Group PLC now owns 360,859 shares of the company’s stock worth $26,162,000 after buying an additional 131,804 shares during the period. Aberdeen Asset Management PLC UK boosted its stake in shares of RBC Bearings by 22.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 472,666 shares of the company’s stock worth $34,268,000 after buying an additional 85,697 shares during the period. TimesSquare Capital Management LLC boosted its stake in shares of RBC Bearings by 9.5% in the first quarter. TimesSquare Capital Management LLC now owns 864,328 shares of the company’s stock worth $63,321,000 after buying an additional 75,250 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of RBC Bearings by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 882,792 shares of the company’s stock worth $64,003,000 after buying an additional 60,810 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of RBC Bearings by 3.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,816,967 shares of the company’s stock worth $131,730,000 after buying an additional 57,458 shares during the period. Institutional investors and hedge funds own 99.73% of the company’s stock.
About RBC Bearings
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision bearings and products, which are integral to the manufacture and operation of machines, aircraft and mechanical systems. The Company operates through four segments: Plain Bearings; Roller Bearings; Ball Bearings, and Engineered Products.
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