Posted by admin on Aug 17th, 2022

Teacher Retirement System of Texas lifted its holdings in RBC Bearings Incorporated (NASDAQ:ROLL – Get Rating) by 7.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,955 shares of the industrial products company’s stock after buying an additional 387 shares during the period. Teacher Retirement System of Texas’ holdings in RBC Bearings were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ROLL. CWM LLC purchased a new position in shares of RBC Bearings in the fourth quarter worth about $30,000. MUFG Americas Holdings Corp lifted its stake in shares of RBC Bearings by 185.7% in 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 in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of RBC Bearings by 28.6% in 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 in the last quarter. Pinebridge Investments L.P. purchased a new position in RBC Bearings during the fourth quarter worth about $81,000. Finally, Steward Partners Investment Advisory LLC raised its stake in RBC Bearings by 16.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 448 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 62 shares during the period.

In related news, VP Richard J. Edwards sold 10,000 shares of RBC Bearings stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $199.07, for a total value of $1,990,700.00. Following the completion of the transaction, the vice president now owns 11,966 shares in the company, valued at $2,382,071.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Edward Stewart sold 3,000 shares of RBC Bearings stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $252.45, for a total value of $757,350.00. Following the completion of the transaction, the director now owns 25,083 shares in the company, valued at $6,332,203.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard J. Edwards sold 10,000 shares of the business’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 owns 11,966 shares of the company’s stock, valued at approximately $2,382,071.62. The disclosure for this sale can be found here. Insiders sold 27,000 shares of company stock worth $6,064,990 over the last 90 days. 2.80% of the stock is owned by insiders.

A number of equities analysts have commented on the stock. Bank of America downgraded 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 research note on Thursday, June 23rd. Morgan Stanley lifted their target price on shares of RBC Bearings from $263.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. Truist Financial reduced their target price on shares of RBC Bearings from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, July 19th. Citigroup lifted their price target on shares of RBC Bearings from $200.00 to $250.00 in a research report on Tuesday, August 9th. Finally, Royal Bank of Canada cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and dropped their price target for the company from $218.00 to $193.00 in a research report 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, the company presently has an average rating of “Hold” and a consensus price target of $229.71.

Shares of ROLL stock opened at $260.25 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.13 and a current ratio of 2.77. The stock has a market capitalization of $7.53 billion, a P/E ratio of 126.34, a price-to-earnings-growth ratio of 6.88 and a beta of 1.36. The company has a 50 day moving average price of $208.77 and a 200 day moving average price of $191.32. RBC Bearings Incorporated has a fifty-two week low of $152.90 and a fifty-two week high of $264.94.

RBC Bearings (NASDAQ:ROLL – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The industrial products company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.39. The firm had revenue of $354.08 million during the quarter, compared to analysts’ expectations of $362.13 million. RBC Bearings had a net margin of 6.21% and a return on equity of 6.08%. The business’s quarterly revenue was up 126.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.04 earnings per share. Equities research analysts predict that RBC Bearings Incorporated will post 6.56 EPS for the current fiscal year.

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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