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RBC Bearings Incorporated (NASDAQ:ROLL - Get Rating)'s stock price hit a new 52-week high on Wednesday after Morgan Stanley raised their price target on the stock from $263.00 to $285.00. Morgan Stanley currently has an overweight rating on the stock. RBC Bearings traded as high as $251.77 and last traded at $249.96, with a volume of 882 shares changing hands. The stock had previously closed at $243.79.
Several other brokerages have also recently issued reports on ROLL. Truist Financial lowered their price objective on shares of RBC Bearings from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, July 19th. Citigroup lifted their price objective on shares of RBC Bearings from $200.00 to $250.00 in a research note on Tuesday. Bank of America cut shares of RBC Bearings from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $218.00 to $193.00 in a research note on Thursday, June 23rd. StockNews.com raised shares of RBC Bearings from a "sell" rating to a "hold" rating in a research note on Friday, May 27th. Finally, TheStreet raised shares of RBC Bearings from a "c+" rating to a "b-" rating in a research report on Monday, August 1st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $229.71.Insider Transactions at RBC Bearings
In related news, Director Alan B. Levine sold 1,600 shares of the firm's stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $211.00, for a total transaction of $337,600.00. Following the completion of the sale, the director now directly owns 20,027 shares in the company, valued at $4,225,697. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Steven H. Kaplan sold 400 shares of the firm's stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $200.05, for a total transaction of $80,020.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at $1,500,375. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alan B. Levine sold 1,600 shares of the firm's stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $211.00, for a total transaction of $337,600.00. Following the sale, the director now owns 20,027 shares of the company's stock, valued at $4,225,697. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock valued at $2,408,320 over the last ninety days. Corporate insiders own 2.80% of the company's stock. Institutional Trading of RBC Bearings
A number of institutional investors have recently added to or reduced their stakes in the business. Baird Financial Group Inc. lifted its stake in RBC Bearings by 1.6% in the second quarter. Baird Financial Group Inc. now owns 282,181 shares of the industrial products company's stock valued at $52,189,000 after acquiring an additional 4,537 shares during the last quarter. TownSquare Capital LLC lifted its stake in shares of RBC Bearings by 5.7% in the second quarter. TownSquare Capital LLC now owns 8,843 shares of the industrial products company's stock worth $1,635,000 after buying an additional 476 shares during the last quarter. M&T Bank Corp lifted its stake in shares of RBC Bearings by 175.6% in the second quarter. M&T Bank Corp now owns 22,525 shares of the industrial products company's stock worth $2,897,000 after buying an additional 14,352 shares during the last quarter. Zions Bancorporation N.A. lifted its stake in shares of RBC Bearings by 23.7% in the second quarter. Zions Bancorporation N.A. now owns 3,906 shares of the industrial products company's stock worth $722,000 after buying an additional 748 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in shares of RBC Bearings by 1.2% in the second quarter. Royce & Associates LP now owns 149,668 shares of the industrial products company's stock worth $27,681,000 after buying an additional 1,795 shares during the last quarter. RBC Bearings Price Performance
The stock's 50 day moving average price is $202.58 and its two-hundred day moving average price is $188.61. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.07 and a quick ratio of 1.42. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 118.35, a PEG ratio of 7.14 and a beta of 1.36.
RBC Bearings (NASDAQ:ROLL - Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The industrial products company reported $1.79 earnings per share 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 6.11%. The business had revenue of $354.08 million during the quarter, compared to analysts' expectations of $362.13 million. During the same period in the previous year, the company earned $1.04 earnings per share. RBC Bearings's revenue for the quarter was up 126.7% on a year-over-year basis. On average, equities research analysts anticipate that RBC Bearings Incorporated will post 5.77 EPS for the current year. About RBC Bearings (Get Rating)
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.Further ReadingGet a free copy of the StockNews.com research report on RBC Bearings (ROLL)Workhorse Group Is Ready To Get Back On The Horse A Rounded Bottom In Draftkings, Inc Begins To Reverse CourseAre 3M, Honeywell, GE Buys After Quarterly Reports?CVS and Walgreens Show Why Investment Objectives Matter This Defense Stock Has Bullish Fundamentals AND Technicals
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