Insider Selling: RBC Bearings CEO Unloads 9,220 Shares of Stock (ROLL)
RBC Bearings (NASDAQ:ROLL) CEO Michael J. Hartnett sold 9,220 shares of the stock on the open market in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $63.76, for a total transaction of $587,867.20. Following the transaction, the chief executive officer now directly owns 393,984 shares in the company, valued at approximately $25,120,420. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of RBC Bearings in a research note on Tuesday, May 20th. They now have a $63.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. RBC Bearings currently has an average rating of “Hold” and an average price target of $67.20.
RBC Bearings (NASDAQ:ROLL) traded down 1.94% during mid-day trading on Thursday, hitting $62.13. The stock had a trading volume of 63,378 shares. RBC Bearings has a 52-week low of $49.94 and a 52-week high of $71.25. The stock has a 50-day moving average of $61.26 and a 200-day moving average of $64.54. The company has a market cap of $1.444 billion and a price-to-earnings ratio of 24.46.
RBC Bearings (NASDAQ:ROLL) last released its earnings data on Wednesday, May 28th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.71 by $0.02. The company had revenue of $113.70 million for the quarter, compared to the consensus estimate of $111.23 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. On average, analysts predict that RBC Bearings will post $3.04 earnings per share for the current fiscal year.
The company also recently announced a special dividend, which is scheduled for Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $2.00 per share. The ex-dividend date is Wednesday, May 28th.
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision plain, roller and ball bearings.
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