Alliancebernstein L.P. lowered its holdings in RBC Bearings Incorporated (NASDAQ:ROLL) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 290,903 shares of the industrial products company’s stock after selling 54,178 shares during the period. Alliancebernstein L.P. owned approximately 1.20% of RBC Bearings worth $36,770,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of ROLL. BlackRock Inc. grew its stake in RBC Bearings by 3.8% during the fourth quarter. BlackRock Inc. now owns 2,066,687 shares of the industrial products company’s stock valued at $261,229,000 after acquiring an additional 76,161 shares in the last quarter. Wasatch Advisors Inc. grew its stake in RBC Bearings by 20.4% during the fourth quarter. Wasatch Advisors Inc. now owns 1,198,672 shares of the industrial products company’s stock valued at $151,512,000 after acquiring an additional 203,366 shares in the last quarter. Wells Fargo & Company MN grew its stake in RBC Bearings by 3.0% during the fourth quarter. Wells Fargo & Company MN now owns 647,973 shares of the industrial products company’s stock valued at $81,904,000 after acquiring an additional 18,871 shares in the last quarter. Royce & Associates LP grew its stake in RBC Bearings by 0.9% during the third quarter. Royce & Associates LP now owns 489,177 shares of the industrial products company’s stock valued at $61,221,000 after acquiring an additional 4,200 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its stake in RBC Bearings by 3.6% during the fourth quarter. OppenheimerFunds Inc. now owns 321,686 shares of the industrial products company’s stock valued at $40,661,000 after acquiring an additional 11,275 shares in the last quarter. 99.49% of the stock is currently owned by institutional investors.
Several equities analysts recently commented on ROLL shares. Zacks Investment Research raised shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a research note on Friday, February 2nd. Drexel Hamilton started coverage on shares of RBC Bearings in a research note on Thursday, December 21st. They issued a “buy” rating and a $140.00 price target for the company. Finally, BidaskClub cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. RBC Bearings presently has an average rating of “Buy” and an average target price of $141.00.
ROLL stock traded down $2.63 during midday trading on Friday, reaching $120.93. The company had a trading volume of 127,000 shares, compared to its average volume of 78,106. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.65 and a quick ratio of 1.65. RBC Bearings Incorporated has a 1 year low of $91.00 and a 1 year high of $139.95. The stock has a market cap of $3,001.21, a PE ratio of 38.15, a P/E/G ratio of 4.49 and a beta of 1.26.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.19. RBC Bearings had a net margin of 12.52% and a return on equity of 11.79%. The business had revenue of $166.86 million during the quarter, compared to analysts’ expectations of $163.46 million. During the same quarter in the previous year, the company earned $0.73 EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. research analysts expect that RBC Bearings Incorporated will post 3.91 EPS for the current fiscal year.
In other news, Director Amir Faghri sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $125.31, for a total value of $563,895.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Hartnett sold 3,300 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $128.00, for a total transaction of $422,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 92,989 shares of company stock valued at $11,736,880. Corporate insiders own 3.70% of the company’s stock.
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RBC Bearings Profile
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision bearings and products, which are integral to the manufacture and operation of machines, aircraft and mechanical systems. The Company operates through four segments: Plain Bearings; Roller Bearings; Ball Bearings, and Engineered Products.
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