Posted by admin on Aug 19th, 2022

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

NASDAQ ROLL opened at $259.05 on Friday. RBC Bearings Incorporated has a 52-week low of $152.90 and a 52-week high of $264.94. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.13 and a current ratio of 2.77. The company has a market capitalization of $7.49 billion, a P/E ratio of 125.75, a P/E/G ratio of 6.76 and a beta of 1.36. The company has a fifty day moving average of $211.44 and a 200-day moving average of $192.34.

RBC Bearings (NASDAQ:ROLL – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter, topping 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 company had revenue of $354.08 million during the quarter, compared to the consensus estimate of $362.13 million. During the same period in the previous year, the firm posted $1.04 EPS. The firm’s revenue was up 126.7% compared to the same quarter last year. As a group, equities research analysts predict that RBC Bearings Incorporated will post 6.56 EPS for the current fiscal year.

A number of research analysts recently weighed in on the stock. TheStreet upgraded shares of RBC Bearings from a “c+” rating to a “b-” rating in a research note on Monday, August 1st. StockNews.com raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a report on Friday, May 27th. Truist Financial cut their price target on shares of RBC Bearings from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. Morgan Stanley raised their price target on shares of RBC Bearings from $263.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th. Finally, Citigroup raised their price target on shares of RBC Bearings from $200.00 to $250.00 in a report on Tuesday, August 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $229.71.

A number of hedge funds have recently made changes to their positions in ROLL. Price T Rowe Associates Inc. MD raised its position in RBC Bearings by 21.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,580,868 shares of the industrial products company’s stock worth $477,332,000 after purchasing an additional 463,801 shares during the period. BlackRock Inc. raised its position in RBC Bearings by 1.6% in the 1st quarter. BlackRock Inc. now owns 2,145,334 shares of the industrial products company’s stock worth $415,937,000 after purchasing an additional 33,956 shares during the period. Durable Capital Partners LP raised its position in RBC Bearings by 28.2% in the 1st quarter. Durable Capital Partners LP now owns 1,604,993 shares of the industrial products company’s stock worth $311,176,000 after purchasing an additional 353,074 shares during the period. Wasatch Advisors Inc. raised its position in RBC Bearings by 3.5% in the 1st quarter. Wasatch Advisors Inc. now owns 1,458,413 shares of the industrial products company’s stock worth $282,757,000 after purchasing an additional 49,064 shares during the period. Finally, JPMorgan Chase & Co. raised its position in RBC Bearings by 2.7% in the 1st quarter. JPMorgan Chase & Co. now owns 879,373 shares of the industrial products company’s stock worth $170,493,000 after purchasing an additional 23,354 shares during the period.

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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