Posted by admin on Aug 12th, 2022

SG Americas Securities LLC reduced its stake in RBC Bearings Incorporated (NASDAQ:ROLL – Get Rating) by 95.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 959 shares of the industrial products company’s stock after selling 19,673 shares during the quarter. SG Americas Securities LLC’s holdings in RBC Bearings were worth $186,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ROLL. Allspring Global Investments Holdings LLC purchased a new stake in RBC Bearings in the 4th quarter valued at $1,368,000. Commonwealth Equity Services LLC purchased a new position in shares of RBC Bearings during the 4th quarter worth $223,000. CWM LLC purchased a new position in shares of RBC Bearings during the 4th quarter worth $30,000. Qube Research & Technologies Ltd purchased a new position in shares of RBC Bearings during the 4th quarter worth $653,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in RBC Bearings by 50.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,780 shares of the industrial products company’s stock worth $763,000 after acquiring an additional 1,272 shares in the last quarter.

NASDAQ:ROLL opened at $256.78 on Friday. The stock’s 50 day moving average price is $204.98 and its 200 day moving average price is $189.52. The company has a market capitalization of $7.43 billion, a PE ratio of 124.65, a P/E/G ratio of 6.34 and a beta of 1.36. The company has a quick ratio of 1.42, a current ratio of 2.77 and a debt-to-equity ratio of 0.65. RBC Bearings Incorporated has a 52-week low of $152.90 and a 52-week high of $257.43.

RBC Bearings (NASDAQ:ROLL – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.39. RBC Bearings had a return on equity of 6.08% and a net margin of 6.21%. The firm had revenue of $354.08 million for the quarter, compared to the consensus estimate of $362.13 million. During the same quarter last year, the business posted $1.04 EPS. The firm’s quarterly revenue was up 126.7% compared to the same quarter last year. On average, research analysts anticipate that RBC Bearings Incorporated will post 6.55 EPS for the current year.

ROLL has been the topic of a number of analyst reports. StockNews.com raised RBC Bearings from a “sell” rating to a “hold” rating in a research report on Friday, May 27th. Morgan Stanley raised their target price on RBC Bearings from $263.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday. Royal Bank of Canada lowered RBC Bearings from a “buy” rating to a “neutral” rating and cut their target price 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. Truist Financial cut their target price on RBC Bearings from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, July 19th. Finally, Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and cut their target price for the stock from $218.00 to $193.00 in a research report on Thursday, June 23rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $229.71.

In other RBC Bearings news, VP Richard J. Edwards sold 10,000 shares of RBC Bearings stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $199.07, for a total value of $1,990,700.00. Following the transaction, the vice president now directly owns 11,966 shares in the company, valued at approximately $2,382,071.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other RBC Bearings news, Director Steven H. Kaplan sold 400 shares of RBC Bearings stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $200.05, for a total value of $80,020.00. Following the transaction, the director now directly owns 7,500 shares in the company, valued at approximately $1,500,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,000 shares of company stock worth $6,064,990. 2.80% 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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