Posted by admin on Jul 24th, 2022

Park Avenue Securities LLC increased its stake in shares of RBC Bearings Incorporated (NASDAQ:ROLL – Get Rating) by 8.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,197 shares of the industrial products company’s stock after purchasing an additional 257 shares during the period. Park Avenue Securities LLC’s holdings in RBC Bearings were worth $620,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. FourThought Financial LLC lifted its holdings in RBC Bearings by 11.2% during the 1st quarter. FourThought Financial LLC now owns 645 shares of the industrial products company’s stock worth $125,000 after buying an additional 65 shares in the last quarter. First Bank & Trust lifted its holdings in RBC Bearings by 3.5% during the 1st quarter. First Bank & Trust now owns 2,165 shares of the industrial products company’s stock worth $419,000 after buying an additional 74 shares in the last quarter. TownSquare Capital LLC lifted its holdings in RBC Bearings by 9.0% during the 1st quarter. TownSquare Capital LLC now owns 8,367 shares of the industrial products company’s stock worth $1,622,000 after buying an additional 693 shares in the last quarter. Hardy Reed LLC acquired a new stake in RBC Bearings during the 1st quarter worth approximately $145,000. Finally, Comerica Bank lifted its holdings in RBC Bearings by 2.9% during the 1st quarter. Comerica Bank now owns 61,376 shares of the industrial products company’s stock worth $11,524,000 after buying an additional 1,712 shares in the last quarter.

A number of equities research analysts have issued reports on the stock. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $218.00 to $193.00 in a report on Thursday, June 23rd. Royal Bank of Canada lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $218.00 to $193.00 in a report on Thursday, June 23rd. They noted that the move was a valuation call. StockNews.com upgraded shares of RBC Bearings from a “sell” rating to a “hold” rating in a report on Friday, May 27th. TheStreet lowered shares of RBC Bearings from a “b-” rating to a “c+” rating in a report on Thursday, April 28th. Finally, Truist Financial reduced their price objective on shares of RBC Bearings from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, July 19th. Five 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, RBC Bearings has a consensus rating of “Hold” and an average target price of $222.29.

Shares of NASDAQ:ROLL opened at $215.98 on Friday. The company’s fifty day moving average price is $186.46 and its 200 day moving average price is $185.86. RBC Bearings Incorporated has a 12 month low of $152.90 and a 12 month high of $250.52. 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 $6.24 billion, a P/E ratio of 107.99, a P/E/G ratio of 6.42 and a beta of 1.28.

RBC Bearings (NASDAQ:ROLL – Get Rating) last announced its quarterly earnings results on Thursday, May 26th. The industrial products company reported $1.26 EPS 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 firm had revenue of $358.90 million for the quarter, compared to analyst estimates of $349.91 million. During the same period last year, the business earned $1.08 EPS. RBC Bearings’s revenue for the quarter was up 123.9% compared to the same quarter last year. As a group, sell-side analysts predict that RBC Bearings Incorporated will post 5.77 earnings per share for the current fiscal year.

In other RBC Bearings news, Director Steven H. Kaplan sold 400 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $1,500,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other RBC Bearings news, VP Richard J. Edwards sold 10,000 shares of the firm’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $199.07, for a total transaction of $1,990,700.00. Following the transaction, the vice president now directly owns 11,966 shares of the company’s stock, valued at approximately $2,382,071.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven H. Kaplan sold 400 shares of the firm’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $200.05, for a total transaction of $80,020.00. Following the transaction, the director now directly owns 7,500 shares in the company, valued at $1,500,375. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,000 shares of company stock valued at $2,408,320. Insiders own 2.70% of the company’s stock.

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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