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Michael J. Hartnett Sells 500 Shares of RBC Bearings Incorporated (NASDAQ:ROLL) Stock

12 Jan,2018
<p> <img src="/membcentre/editor/attached/image/20180112/20180112142417_12252.png" alt="" /> </p> <p> 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 &amp; Exchange Commission, which is available through the SEC website.&nbsp; </p> <br /> Michael J. Hartnett also recently made the following trade(s):&nbsp;<br /> &#8226;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.&nbsp;<br /> &#8226;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.&nbsp;<br /> 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.&nbsp;<br /> <br /> 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.&nbsp;<br /> <br /> 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 &amp; Company MN lifted its holdings in shares of RBC Bearings by 2.2% during the third quarter. Wells Fargo &amp; 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.&nbsp;<br /> <br /> <p> 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. </p>
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