Michael J. Hartnett Sells 500 Shares of RBC Bearings Incorporated (NASDAQ:ROLL) Stock
RBC Bearings Incorporated (NASDAQ:ROLL) CEO Michael J. Hartnett sold 500 shares of the business’s stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $128.00, for a total value of $64,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Michael J. Hartnett also recently made the following trade(s):
•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 $2.91 during trading on Wednesday, reaching $126.11. The company’s stock had a trading volume of 79,635 shares, compared to its average volume of 68,657. RBC Bearings Incorporated has a 52-week low of $87.61 and a 52-week high of $139.95. The company has a market capitalization of $3,030.00, a PE ratio of 42.75, a P/E/G ratio of 5.90 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 (NASDAQ:ROLL) last issued its quarterly earnings results on Friday, November 3rd. The industrial products company reported $0.83 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 analyst estimates of $164.56 million. During the same quarter last year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. analysts expect that RBC Bearings Incorporated will post 3.63 EPS for the current year.
Several hedge funds have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of RBC Bearings by 1.3% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,287,621 shares of the industrial products company’s stock worth $286,296,000 after buying an additional 29,134 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of RBC Bearings by 2.8% during the second quarter. BlackRock Inc. now owns 1,844,217 shares of the industrial products company’s stock worth $187,666,000 after buying an additional 49,694 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of RBC Bearings by 0.7% during the second quarter. Vanguard Group Inc. now owns 1,817,613 shares of the industrial products company’s stock worth $184,960,000 after buying an additional 12,863 shares during the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of RBC Bearings by 15.9% during the third quarter. Wasatch Advisors Inc. now owns 995,306 shares of the industrial products company’s stock worth $124,563,000 after buying an additional 136,604 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of RBC Bearings by 2.2% during the third quarter. Wells Fargo & Company MN now owns 629,102 shares of the industrial products company’s stock worth $78,732,000 after buying an additional 13,670 shares during the last quarter. Institutional investors own 97.89% of the company’s stock.
ROLL has been the subject of a number of recent analyst reports. CL King initiated coverage on RBC Bearings in a research report on Wednesday, November 29th. They set a “buy” rating and a $142.00 target price for the company. Bank of America upped their target price on RBC Bearings from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a research report on Tuesday, September 26th. BidaskClub cut RBC Bearings from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 6th. Finally, Drexel Hamilton initiated coverage on RBC Bearings in a research report on Thursday, December 21st. They set a “buy” rating and a $140.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. RBC Bearings presently has a consensus rating of “Buy” and a consensus price target of $140.75.
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