Public Employees Retirement System of Ohio lessened its stake in RBC Bearings Incorporated (NASDAQ:ROLL) by 4.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,898 shares of the industrial products company’s stock after selling 1,703 shares during the period. Public Employees Retirement System of Ohio owned 0.14% of RBC Bearings worth $5,956,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in ROLL. Invesco Ltd. lifted its stake in shares of RBC Bearings by 3,153.1% in the 2nd quarter. Invesco Ltd. now owns 458,423 shares of the industrial products company’s stock worth $76,470,000 after acquiring an additional 444,331 shares during the period. Conestoga Capital Advisors LLC grew its holdings in RBC Bearings by 125.1% during the third quarter. Conestoga Capital Advisors LLC now owns 378,746 shares of the industrial products company’s stock worth $62,838,000 after acquiring an additional 210,524 shares during the period. Wasatch Advisors Inc. grew its holdings in RBC Bearings by 11.7% during the second quarter. Wasatch Advisors Inc. now owns 1,630,566 shares of the industrial products company’s stock worth $271,995,000 after acquiring an additional 170,692 shares during the period. Nuveen Asset Management LLC bought a new stake in RBC Bearings in the second quarter worth about $16,361,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in RBC Bearings by 3.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,471,067 shares of the industrial products company’s stock worth $412,200,000 after acquiring an additional 84,744 shares in the last quarter. 98.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:ROLL opened at $162.56 on Tuesday. RBC Bearings Incorporated has a one year low of $123.50 and a one year high of $171.54. The stock has a fifty day moving average of $162.82 and a 200-day moving average of $158.92. The company has a market capitalization of $4.15 billion, a PE ratio of 33.59, a price-to-earnings-growth ratio of 5.41 and a beta of 1.18. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 5.14.
RBC Bearings (NASDAQ:ROLL) last issued its earnings results on Friday, November 1st. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.08. The business had revenue of $181.91 million for the quarter, compared to analysts’ expectations of $180.93 million. RBC Bearings had a return on equity of 12.61% and a net margin of 15.23%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 EPS. As a group, research analysts forecast that RBC Bearings Incorporated will post 5.22 EPS for the current fiscal year.
In related news, Director Richard R. Crowell sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $160.06, for a total value of $400,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Hartnett sold 6,347 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $160.06, for a total transaction of $1,015,900.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,271 shares of company stock valued at $4,533,580. 3.50% of the stock is currently owned by company insiders.
Several research firms have recently weighed in on ROLL. BidaskClub upgraded shares of RBC Bearings from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. ValuEngine upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Bank of America lowered shares of RBC Bearings from a “neutral” rating to an “underperform” rating and set a $165.00 target price for the company. in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. RBC Bearings has an average rating of “Hold” and a consensus target price of $151.00.
RBC Bearings Profile
RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates in four segments: Plain Bearings, Roller Bearings, Ball Bearings, and Engineered Products. The Plain Bearings segment produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings that are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or in heavy mining and construction equipment.
Read More: Capital gains and your 401(k) or IRA
Want to see what other hedge funds are holding ROLL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RBC Bearings Incorporated (NASDAQ:ROLL).
Receive News & Ratings for RBC Bearings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RBC Bearings and related companies with MarketBeat.com's FREE daily email newsletter.