Posted by admin on Jul 27th, 2022

Atria Investments LLC lifted its holdings in shares of RBC Bearings Incorporated (NASDAQ:ROLL – Get Rating) by 11.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,847 shares of the industrial products company’s stock after purchasing an additional 694 shares during the period. Atria Investments LLC’s holdings in RBC Bearings were worth $1,327,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. CWM LLC bought a new position in RBC Bearings during the fourth quarter worth $30,000. MUFG Americas Holdings Corp raised its stake in RBC Bearings by 185.7% during the fourth quarter. MUFG Americas Holdings Corp now owns 180 shares of the industrial products company’s stock worth $36,000 after buying an additional 117 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in RBC Bearings by 28.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 450 shares of the industrial products company’s stock worth $81,000 after buying an additional 100 shares during the last quarter. Pinebridge Investments L.P. bought a new position in RBC Bearings during the fourth quarter worth $81,000. Finally, Fifth Third Bancorp raised its stake in RBC Bearings by 21.9% during the fourth quarter. Fifth Third Bancorp now owns 412 shares of the industrial products company’s stock worth $83,000 after buying an additional 74 shares during the last quarter.

RBC Bearings stock opened at $214.71 on Wednesday. RBC Bearings Incorporated has a fifty-two week low of $152.90 and a fifty-two week high of $242.74. The stock has a market cap of $6.20 billion, a PE ratio of 107.36, a price-to-earnings-growth ratio of 6.38 and a beta of 1.28. The firm’s 50-day simple moving average is $188.61 and its 200 day simple moving average is $185.94. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.42 and a current ratio of 3.07.

RBC Bearings (NASDAQ:ROLL – Get Rating) last released its quarterly earnings results on Thursday, May 26th. The industrial products company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.20. RBC Bearings had a net margin of 6.30% and a return on equity of 5.40%. The business had revenue of $358.90 million for the quarter, compared to analysts’ expectations of $349.91 million. During the same period in the previous year, the company earned $1.08 earnings per share. The firm’s revenue for the quarter was up 123.9% compared to the same quarter last year. Research analysts predict that RBC Bearings Incorporated will post 5.77 EPS for the current fiscal year.

ROLL has been the subject of a number of analyst reports. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $218.00 to $193.00 in a research note on Thursday, June 23rd. Truist Financial decreased their price target on shares of RBC Bearings from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, July 19th. StockNews.com raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a research note on Friday, May 27th. TheStreet downgraded shares of RBC Bearings from a “b-” rating to a “c+” rating in a research note on Thursday, April 28th. Finally, Royal Bank of Canada downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and decreased their price target for the company from $218.00 to $193.00 in a research note on Thursday, June 23rd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RBC Bearings has a consensus rating of “Hold” and a consensus target price of $222.29.

In other RBC Bearings news, Director Alan B. Levine sold 1,600 shares of the business’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $211.00, for a total value of $337,600.00. Following the transaction, 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 can be accessed through this hyperlink. In related news, Director Alan B. Levine sold 1,600 shares of the company’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 sale, the director now owns 20,027 shares of the company’s stock, valued at approximately $4,225,697. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard J. Edwards sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $199.07, for a total transaction of $1,990,700.00. Following the sale, the vice president now directly owns 11,966 shares in the company, valued at approximately $2,382,071.62. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $2,408,320 over the last three months. 2.70% of the stock is currently owned by insiders.

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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