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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of RBC Bearings Inc. (NASDAQ:ROLL) opened at 73.32 on Friday. RBC Bearings Inc. has a 12-month low of $54.38 and a 12-month high of $87.82. The stock has a market capitalization of $1.71 billion, a P/E ratio of 25.20 and a beta of 1.19. The company has a 50-day moving average of $76.56 and a 200-day moving average of $74.90.
RBC Bearings (NASDAQ:ROLL) last announced its earnings results on Thursday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.01. RBC Bearings had a net margin of 11.24% and a return on equity of 12.05%. The company earned $154.58 million during the quarter, compared to the consensus estimate of $152.83 million. During the same quarter in the prior year, the company earned $0.78 EPS. The business’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 fiscal year.
Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its stake in shares of RBC Bearings by 77.2% in the second quarter. Victory Capital Management Inc. now owns 1,448 shares of the company’s stock worth $105,000 after buying an additional 631 shares during the last quarter. Advisor Group Inc. acquired a new stake in shares of RBC Bearings during the second quarter worth $116,000. BlackRock Inc. increased its stake in shares of RBC Bearings by 111.7% in the first quarter. BlackRock Inc. now owns 1,647 shares of the company’s stock worth $121,000 after buying an additional 869 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of RBC Bearings by 98.2% in the third quarter. BNP Paribas Arbitrage SA now owns 2,059 shares of the company’s stock worth $157,000 after buying an additional 1,020 shares during the last quarter. Finally, Checchi Capital Advisers LLC acquired a new stake in shares of RBC Bearings during the second quarter worth $206,000. 99.73% of the stock is owned by institutional investors.
Separately, Zacks Investment Research downgraded shares of RBC Bearings from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. RBC Bearings currently has a consensus rating of “Hold” and a consensus target price of $74.80.
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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