Posted by admin on Jul 21st, 2022

Hardy Reed LLC bought a new position in RBC Bearings Incorporated (NASDAQ:ROLL – Get Rating) during the 1st quarter, Holdings Channel reports. The fund bought 750 shares of the industrial products company’s stock, valued at approximately $145,000.

Several other large investors also recently modified their holdings of the business. CWM LLC bought a new stake in RBC Bearings during the 4th quarter valued at approximately $30,000. Spire Wealth Management bought a new stake in RBC Bearings during the 4th quarter valued at approximately $36,000. MUFG Americas Holdings Corp boosted its position in 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 in the last quarter. Pinebridge Investments L.P. bought a new stake in RBC Bearings during the 4th quarter valued at approximately $81,000. Finally, Fifth Third Bancorp boosted its position in RBC Bearings by 21.9% during the 4th quarter. Fifth Third Bancorp now owns 412 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 74 shares in the last quarter.

Several analysts have weighed in on the company. Truist Financial cut their price objective on RBC Bearings from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday. TheStreet lowered shares of RBC Bearings from a “b-” rating to a “c+” rating in a report on Thursday, April 28th. StockNews.com upgraded shares of RBC Bearings from a “sell” rating to a “hold” rating in a report on Friday, May 27th. Royal Bank of Canada lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and lowered their target price 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. Finally, Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and lowered their target price for the company from $218.00 to $193.00 in a report on Thursday, June 23rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $222.29.

Shares of NASDAQ ROLL opened at $217.49 on Thursday. RBC Bearings Incorporated has a twelve month low of $152.90 and a twelve month high of $250.52. The firm has a market cap of $6.28 billion, a P/E ratio of 108.75, a PEG ratio of 6.08 and a beta of 1.28. The company has a 50 day moving average of $184.18 and a 200 day moving average of $185.88. The company has a quick ratio of 1.42, a current ratio of 3.07 and a debt-to-equity ratio of 0.71.

RBC Bearings (NASDAQ:ROLL – Get Rating) last announced its quarterly earnings data on Thursday, May 26th. The industrial products company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.20. RBC Bearings had a net margin of 6.30% and a return on equity of 5.40%. The company had revenue of $358.90 million during the quarter, compared to analyst estimates of $349.91 million. During the same period in the previous year, the business earned $1.08 EPS. The firm’s revenue for the quarter was up 123.9% on a year-over-year basis. As a group, research analysts expect that RBC Bearings Incorporated will post 5.83 EPS for the current fiscal year.

In other RBC Bearings news, Director Steven H. Kaplan sold 400 shares of the business’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 completion of the sale, 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 SEC, which is available through this link. In other RBC Bearings news, Director Steven H. Kaplan sold 400 shares of the business’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 completion of the sale, 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 SEC, which is available through this link. Also, VP Richard J. Edwards sold 10,000 shares of the business’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 sale, the vice president now owns 11,966 shares of the company’s stock, valued at $2,382,071.62. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock worth $2,408,320 in the last three months. 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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