Daniel A. Bergeron Sells 21,165 Shares of RBC Bearings Incorporated (NASDAQ:ROLL) Stock

RBC Bearings Incorporated (NASDAQ:ROLLGet Rating) COO Daniel A. Bergeron sold 21,165 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $259.60, for a total value of $5,494,434.00. Following the completion of the sale, the chief operating officer now owns 103,718 shares of the company’s stock, valued at approximately $26,925,192.80. The sale was disclosed in a filing with the SEC, which is accessible through this link.

RBC Bearings Trading Down 0.6 %

Shares of NASDAQ:ROLL traded down $1.59 during trading on Wednesday, reaching $258.66. The company’s stock had a trading volume of 131,503 shares, compared to its average volume of 154,685. The company has a current ratio of 2.77, a quick ratio of 1.13 and a debt-to-equity ratio of 0.65. RBC Bearings Incorporated has a 12 month low of $152.90 and a 12 month high of $264.94. The firm’s 50 day simple moving average is $208.77 and its two-hundred day simple moving average is $191.32. The stock has a market capitalization of $7.48 billion, a PE ratio of 126.34, a price-to-earnings-growth ratio of 6.74 and a beta of 1.36.

RBC Bearings (NASDAQ:ROLLGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The industrial products company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.39. RBC Bearings had a net margin of 6.21% and a return on equity of 6.08%. The firm had revenue of $354.08 million during the quarter, compared to the consensus estimate of $362.13 million. During the same quarter last year, the firm earned $1.04 EPS. The firm’s revenue for the quarter was up 126.7% compared to the same quarter last year. On average, research analysts predict that RBC Bearings Incorporated will post 6.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Citigroup raised their price objective on RBC Bearings from $200.00 to $250.00 in a research report on Tuesday, August 9th. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and cut their price objective for the company from $218.00 to $193.00 in a research report on Thursday, June 23rd. TheStreet upgraded RBC Bearings from a “c+” rating to a “b-” rating in a research report on Monday, August 1st. Morgan Stanley raised their price objective on RBC Bearings from $263.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Finally, Royal Bank of Canada lowered RBC Bearings from a “buy” rating to a “neutral” rating and cut their price objective for the company from $218.00 to $193.00 in a research report on Thursday, June 23rd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, RBC Bearings currently has an average rating of “Hold” and an average target price of $229.71.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ROLL. Bartlett & Co. LLC bought a new stake in RBC Bearings in the second quarter worth about $25,000. Castle Wealth Management LLC bought a new stake in RBC Bearings in the second quarter worth about $28,000. CWM LLC bought a new stake in RBC Bearings in the fourth quarter worth about $30,000. Venture Visionary Partners LLC bought a new stake in RBC Bearings in the second quarter worth about $32,000. Finally, MUFG Americas Holdings Corp lifted its stake in RBC Bearings by 185.7% in the fourth quarter. MUFG Americas Holdings Corp now owns 180 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 117 shares during the last quarter.

About RBC Bearings

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RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.

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