RBC Bearings Incorporated (NASDAQ:ROLL) Insider Michael J. Hartnett Sells 1,687 Shares
RBC Bearings Incorporated (NASDAQ:ROLL) insider Michael J. Hartnett sold 1,687 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $128.28, for a total value of $216,408.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Michael J. Hartnett also recently made the following trade(s):
•On Saturday, December 29th, Michael J. Hartnett sold 500 shares of RBC Bearings stock. The shares were sold at an average price of $128.00, for a total value of $64,000.00.
•On Wednesday, December 6th, Michael J. Hartnett sold 3,500 shares of RBC Bearings stock. The shares were sold at an average price of $128.79, for a total value of $450,765.00.
•On Tuesday, December 5th, Michael J. Hartnett sold 6,300 shares of RBC Bearings stock. The stock was sold at an average price of $128.68, for a total value of $810,684.00.
Shares of RBC Bearings Incorporated (NASDAQ ROLL) traded up $0.11 during mid-day trading on Tuesday, reaching $126.51. The company’s stock had a trading volume of 86,377 shares, compared to its average volume of 66,950. The stock has a market capitalization of $3,064.59, a P/E ratio of 42.88, a P/E/G ratio of 5.93 and a beta of 1.35. The company has a quick ratio of 1.64, a current ratio of 4.68 and a debt-to-equity ratio of 0.26. RBC Bearings Incorporated has a 52 week low of $87.61 and a 52 week high of $139.95.
RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Friday, November 3rd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). RBC Bearings had a return on equity of 11.10% and a net margin of 11.18%. The business had revenue of $164.30 million for the quarter, compared to analysts’ expectations of $164.56 million. During the same quarter in the prior year, the company posted $0.78 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. equities research analysts anticipate that RBC Bearings Incorporated will post 3.63 EPS for the current year.
A number of institutional investors have recently made changes to their positions in the stock. Wasatch Advisors Inc. grew its stake in shares of RBC Bearings by 131.3% in the second quarter. Wasatch Advisors Inc. now owns 858,702 shares of the industrial products company’s stock valued at $87,382,000 after buying an additional 487,495 shares in the last quarter. Janus Henderson Group PLC grew its stake in RBC Bearings by 56.1% during the 2nd quarter. Janus Henderson Group PLC now owns 492,837 shares of the industrial products company’s stock worth $50,151,000 after purchasing an additional 177,117 shares in the last quarter. Russell Investments Group Ltd. grew its stake in RBC Bearings by 311.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 88,067 shares of the industrial products company’s stock worth $8,962,000 after purchasing an additional 66,685 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its stake in RBC Bearings by 48.5% during the 3rd quarter. Bradley Foster & Sargent Inc. CT now owns 183,242 shares of the industrial products company’s stock worth $22,933,000 after purchasing an additional 59,857 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in RBC Bearings by 2.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,258,487 shares of the industrial products company’s stock worth $229,824,000 after purchasing an additional 53,909 shares in the last quarter. Hedge funds and other institutional investors own 97.89% of the company’s stock.
A number of research firms recently commented on ROLL. Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a report on Tuesday, September 26th. Drexel Hamilton began coverage on RBC Bearings in a research note on Thursday, December 21st. They issued a “buy” rating and a $140.00 price objective on the stock. BidaskClub downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. ValuEngine downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, CL King initiated coverage on RBC Bearings in a report on Wednesday, November 29th. They issued a “buy” rating and a $142.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $139.50.
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