Posted by admin on Aug 17th, 2022
Qube Research & Technologies Ltd grew its holdings in shares of RBC Bearings Incorporated (NASDAQ:ROLL – Get Rating) by 88.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,102 shares of the industrial products company’s stock after purchasing an additional 2,871 shares during the quarter. Qube Research & Technologies Ltd’s holdings in RBC Bearings were worth $1,183,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ROLL. CWM LLC acquired a new stake in RBC Bearings during the 4th quarter worth $30,000. MUFG Americas Holdings Corp boosted its position in shares of RBC Bearings by 185.7% during the 4th quarter. MUFG Americas Holdings Corp now owns 180 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 117 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of RBC Bearings by 28.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 450 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 100 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in shares of RBC Bearings during the 4th quarter valued at about $81,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in RBC Bearings by 16.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 448 shares of the industrial products company’s stock valued at $90,000 after buying an additional 62 shares during the period.
ROLL has been the topic of several research analyst reports. 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. TheStreet upgraded RBC Bearings from a “c+” rating to a “b-” rating in a research note on Monday, August 1st. StockNews.com upgraded RBC Bearings from a “sell” rating to a “hold” rating in a research note on Friday, May 27th. Royal Bank of Canada cut RBC Bearings from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $218.00 to $193.00 in a research report on Thursday, June 23rd. They noted that the move was a valuation call. Finally, Bank of America cut 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. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $229.71.
RBC Bearings stock opened at $260.25 on Wednesday. The company has a 50-day simple moving average of $208.77 and a 200-day simple moving average of $191.32. The firm has a market capitalization of $7.53 billion, a P/E ratio of 126.34, a P/E/G ratio of 6.88 and a beta of 1.36. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.13 and a current ratio of 2.77. RBC Bearings Incorporated has a one year low of $152.90 and a one year high of $264.94.
RBC Bearings (NASDAQ:ROLL – Get Rating) last announced its earnings results on Thursday, August 4th. The industrial products company reported $1.79 earnings per share (EPS) 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 analyst estimates of $362.13 million. RBC Bearings had a net margin of 6.21% and a return on equity of 6.08%. RBC Bearings’s revenue was up 126.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS. As a group, equities analysts expect that RBC Bearings Incorporated will post 6.56 earnings per share for the current year.
In related news, VP Richard J. Edwards sold 10,000 shares of the stock in a transaction dated 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 approximately $2,382,071.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Richard J. Edwards sold 10,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 11,966 shares in the company, valued at approximately $2,382,071.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edward Stewart sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $252.45, for a total transaction of $757,350.00. Following the transaction, the director now owns 25,083 shares of the company’s stock, valued at approximately $6,332,203.35. The disclosure for this sale can be found here. Insiders sold 27,000 shares of company stock worth $6,064,990 in the last 90 days. Corporate insiders own 2.80% 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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