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 the firm’s stock in a transaction that occurred on Tuesday, October 11th. The shares were 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 Securities & Exchange Commission, which is available through the SEC website.
RBC Bearings Inc. (NASDAQ:ROLL) opened at 74.08 on Wednesday. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 25.46 and a beta of 1.19. RBC Bearings Inc. has a 1-year low of $54.38 and a 1-year high of $87.82. The stock has a 50 day moving average of $76.84 and a 200 day moving average of $74.91.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by $0.01. RBC Bearings had a return on equity of 12.05% and a net margin of 11.24%. The business earned $154.58 million during the quarter, compared to analysts’ expectations of $152.83 million. During the same quarter in the prior year, the firm earned $0.78 earnings per share. RBC Bearings’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts expect that RBC Bearings Inc. will post $3.34 earnings per share for the current year.
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Separately, Zacks Investment Research lowered shares of RBC Bearings from a “hold” rating to a “sell” rating in a research note on Friday, August 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. RBC Bearings has a consensus rating of “Hold” and a consensus target price of $74.80.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in RBC Bearings by 2.9% in the first quarter. State Street Corp now owns 387,345 shares of the company’s stock worth $28,377,000 after buying an additional 10,746 shares during the period. Goldman Sachs Group Inc. raised its position in RBC Bearings by 4.8% in the first quarter. Goldman Sachs Group Inc. now owns 605,407 shares of the company’s stock worth $44,352,000 after buying an additional 27,632 shares during the period. Aperio Group LLC purchased a new position in RBC Bearings during the first quarter worth about $262,000. BlackRock Institutional Trust Company N.A. raised its position in RBC Bearings by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 576,801 shares of the company’s stock worth $42,256,000 after buying an additional 4,816 shares during the period. Finally, Confluence Investment Management LLC raised its position in RBC Bearings by 69.5% in the second quarter. Confluence Investment Management LLC now owns 15,301 shares of the company’s stock worth $1,109,000 after buying an additional 6,276 shares during the period. Institutional investors 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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