GW&K Investment Management LLC Decreases Holdings in RBC Bearings Incorporated (ROLL)

GW&K Investment Management LLC trimmed its holdings in RBC Bearings Incorporated (NASDAQ:ROLL) by 8.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 476,666 shares of the industrial products company’s stock after selling 45,875 shares during the quarter. RBC Bearings comprises approximately 1.0% of GW&K Investment Management LLC’s portfolio, making the stock its 13th largest holding. GW&K Investment Management LLC owned approximately 1.97% of RBC Bearings worth $60,251,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ROLL. Wasatch Advisors Inc. lifted its stake in RBC Bearings by 131.3% in the 2nd quarter. Wasatch Advisors Inc. now owns 858,702 shares of the industrial products company’s stock worth $87,382,000 after purchasing an additional 487,495 shares in the last quarter. Janus Henderson Group PLC lifted its stake in RBC Bearings by 56.1% in the 2nd 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 in the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in RBC Bearings by 48.5% in the 3rd quarter. Bradley Foster & Sargent Inc. CT now owns 183,242 shares of the industrial products company’s stock worth $22,933,000 after purchasing an additional 59,857 shares in the last quarter. BlackRock Inc. lifted its stake in RBC Bearings by 2.8% in the 2nd quarter. BlackRock Inc. now owns 1,844,217 shares of the industrial products company’s stock worth $187,666,000 after purchasing an additional 49,694 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in RBC Bearings by 1.3% in the 3rd 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 purchasing an additional 29,134 shares in the last quarter. 97.89% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Michael J. Hartnett sold 1,687 shares of RBC Bearings stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $128.28, for a total value of $216,408.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas C. Crainer sold 15,000 shares of RBC Bearings stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $120.76, for a total transaction of $1,811,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,487 shares of company stock valued at $4,632,657 in the last 90 days. Insiders own 3.70% of the company’s stock.

Shares of RBC Bearings Incorporated (ROLL) traded up $3.37 during midday trading on Friday, hitting $129.64. 107,641 shares of the stock were exchanged, compared to its average volume of 87,023. The firm has a market cap of $3,110.17, a P/E ratio of 43.95, a P/E/G ratio of 5.94 and a beta of 1.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.68 and a quick ratio of 1.64. RBC Bearings Incorporated has a fifty-two week low of $88.70 and a fifty-two week high of $139.95.

RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings results on Friday, November 3rd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.02). The firm had revenue of $164.30 million for the quarter, compared to analyst estimates of $164.56 million. RBC Bearings had a return on equity of 11.10% and a net margin of 11.18%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 EPS. equities research analysts forecast that RBC Bearings Incorporated will post 3.68 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on ROLL. Zacks Investment Research downgraded shares of RBC Bearings from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. CL King began coverage on shares of RBC Bearings in a report on Wednesday, November 29th. They set a “buy” rating and a $142.00 price target for the company. Bank of America raised their price target on shares of RBC Bearings from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. ValuEngine downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Drexel Hamilton began coverage on shares of RBC Bearings in a report on Thursday, December 21st. They set a “buy” rating and a $140.00 price target for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $140.75.

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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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Institutional Ownership by Quarter for RBC Bearings (NASDAQ:ROLL)

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