Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada raised its position in RBC Bearings by 2.2% in the second quarter. Royal Bank of Canada now owns 315,464 shares of the company’s stock worth $22,871,000 after buying an additional 6,787 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in RBC Bearings by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 101,189 shares of the company’s stock worth $7,337,000 after buying an additional 4,316 shares in the last quarter. Stifel Financial Corp raised its position in RBC Bearings by 7.7% in the second quarter. Stifel Financial Corp now owns 35,407 shares of the company’s stock worth $2,568,000 after buying an additional 2,519 shares in the last quarter. FDx Advisors Inc. raised its position in RBC Bearings by 5.0% in the second quarter. FDx Advisors Inc. now owns 3,107 shares of the company’s stock worth $225,000 after buying an additional 149 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in RBC Bearings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,280 shares of the company’s stock worth $238,000 after buying an additional 398 shares in the last quarter. 98.13% of the stock is currently owned by hedge funds and other institutional investors.
Wesbanco Bank Inc. maintained its stake in shares of RBC Bearings Incorporated (NASDAQ:ROLL) during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,840 shares of the company’s stock at the end of the fourth quarter. Wesbanco Bank Inc.’s holdings in RBC Bearings were worth $264,000 as of its most recent filing with the SEC.
Shares of RBC Bearings Incorporated (NASDAQ:ROLL) traded up 3.42% during midday trading on Thursday, reaching $95.49. The company’s stock had a trading volume of 48,944 shares. The company’s 50-day moving average price is $92.40 and its 200 day moving average price is $81.52. The company has a market capitalization of $2.24 billion, a P/E ratio of 31.21 and a beta of 1.17. RBC Bearings Incorporated has a 12-month low of $57.75 and a 12-month high of $95.72.
RBC Bearings (NASDAQ:ROLL) last posted its earnings results on Wednesday, February 8th. The company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The business earned $146.70 million during the quarter, compared to analyst estimates of $147.66 million. RBC Bearings had a return on equity of 11.71% and a net margin of 11.75%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 EPS. On average, equities research analysts forecast that RBC Bearings Incorporated will post $3.22 earnings per share for the current year.
ROLL has been the topic of a number of recent analyst reports. Seaport Global Securities lowered RBC Bearings from an “accumulate” rating to a “neutral” rating and set a $73.00 price objective on the stock. in a research note on Friday, October 14th. Zacks Investment Research downgraded RBC Bearings from a “hold” rating to a “sell” rating in a report on Monday, October 17th. Finally, William Blair upgraded RBC Bearings from a “market perform” rating to an “outperform” rating in a report on Monday, December 12th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. RBC Bearings currently has a consensus rating of “Buy” and an average target price of $83.25.
In other news, Director Richard R. Crowell sold 10,500 shares of the firm’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $92.20, for a total value of $968,100.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Hartnett sold 12,400 shares of the firm’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $80.96, for a total value of $1,003,904.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,500 shares of company stock worth $9,109,029. Company insiders own 4.40% of the company’s stock.
About RBC Bearings
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision bearings and products, which are integral to the manufacture and operation of machines, aircraft and mechanical systems. The Company operates through four segments: Plain Bearings; Roller Bearings; Ball Bearings, and Engineered Products.
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