State Street Corp grew its stake in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 6.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 449,710 shares of the industrial products company’s stock after acquiring an additional 28,142 shares during the quarter. State Street Corp owned about 1.89% of RBC Bearings worth $45,764,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of RBC Bearings by 90,578.3% during the first quarter. BlackRock Inc. now owns 1,794,523 shares of the industrial products company’s stock valued at $174,231,000 after buying an additional 1,792,544 shares during the last quarter. Janus Henderson Group PLC increased its position in RBC Bearings by 56.1% in the second quarter. Janus Henderson Group PLC now owns 492,837 shares of the industrial products company’s stock worth $50,151,000 after purchasing an additional 177,117 shares during the last quarter. Vanguard Group Inc. increased its position in RBC Bearings by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,804,750 shares of the industrial products company’s stock worth $175,223,000 after purchasing an additional 96,915 shares during the last quarter. Russell Investments Group Ltd. increased its position in RBC Bearings by 311.9% in the second quarter. Russell Investments Group Ltd. now owns 88,067 shares of the industrial products company’s stock worth $8,962,000 after purchasing an additional 66,685 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in RBC Bearings by 2.4% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,258,487 shares of the industrial products company’s stock worth $229,824,000 after buying an additional 53,909 shares during the period. 99.18% of the stock is currently owned by hedge funds and other institutional investors.
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In related news, VP Richard J. Edwards sold 10,000 shares of RBC Bearings stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $121.54, for a total value of $1,215,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.70% of the company’s stock.
Shares of RBC Bearings Incorporated (NASDAQ:ROLL) opened at $123.11 on Tuesday. The stock has a market cap of $2,974.16, a price-to-earnings ratio of 36.40, a PEG ratio of 5.76 and a beta of 1.34. RBC Bearings Incorporated has a one year low of $79.78 and a one year high of $135.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 4.68.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Friday, November 3rd. The industrial products company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.02). The firm had revenue of $164.30 million during the quarter, compared to the consensus estimate of $164.56 million. RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. sell-side analysts predict that RBC Bearings Incorporated will post 3.63 EPS for the current fiscal year.
Several research firms have commented on ROLL. Zacks Investment Research raised shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $119.00 price objective for the company in a research note on Thursday, August 10th. Bank of America Corporation boosted their target price on shares of RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Finally, BidaskClub raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th.
RBC Bearings Profile
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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