Michael.J Hartnett Sells 15,496 Shares of RBC Bearings Incorporated (Roll) Stock
RBC Bearings Incorporated (NASDAQ:ROLL) insider Michael J. Hartnett sold 15,496 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $94.51, for a total transaction of $1,464,526.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
RBC Bearings Incorporated (NASDAQ:ROLL) traded down 0.41% during trading on Friday, hitting $94.00. 89,671 shares of the company’s stock were exchanged. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 32.65 and a beta of 1.17. RBC Bearings Incorporated has a 12-month low of $60.94 and a 12-month high of $97.51. The company’s 50-day moving average price is $92.81 and its 200 day moving average price is $82.30.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Wednesday, February 8th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business earned $146.70 million during the quarter, compared to analyst estimates of $147.66 million. RBC Bearings had a net margin of 11.01% and a return on equity of 11.32%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 earnings per share. Equities analysts forecast that RBC Bearings Incorporated will post $3.16 earnings per share for the current fiscal year.
Several analysts recently issued reports on ROLL shares. William Blair upgraded shares of RBC Bearings from a “market perform” rating to an “outperform” rating in a research report on Monday, December 12th. Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “strong-buy” rating and set a $108.00 target price for the company in a research report on Thursday, January 5th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. RBC Bearings has an average rating of “Hold” and a consensus price target of $83.25.
Several hedge funds have recently added to or reduced their stakes in the stock. Aberdeen Asset Management PLC UK raised its position 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 valued at $34,268,000 after buying an additional 85,697 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of RBC Bearings by 11.3% in the third quarter. Wells Fargo & Company MN now owns 549,012 shares of the company’s stock valued at $41,989,000 after buying an additional 55,951 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of RBC Bearings by 13.8% in the third quarter. JPMorgan Chase & Co. now owns 1,004,454 shares of the company’s stock valued at $76,821,000 after buying an additional 121,662 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of RBC Bearings during the second quarter valued at approximately $281,000. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of RBC Bearings by 3.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 588,714 shares of the company’s stock valued at $45,025,000 after buying an additional 18,991 shares during the last quarter.
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