PNC Financial Services Group Inc. lowered its holdings in RBC Bearings Incorporated (NASDAQ:ROLL) by 4.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,942 shares of the industrial products company’s stock after selling 833 shares during the period. PNC Financial Services Group Inc.’s holdings in RBC Bearings were worth $2,282,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of ROLL. Norges Bank purchased a new position in RBC Bearings in the fourth quarter worth $23,592,000. Ellis Investment Partners LLC purchased a new position in RBC Bearings in the first quarter worth $62,000. BlackRock Inc. boosted its position in RBC Bearings by 2.7% in the fourth quarter. BlackRock Inc. now owns 2,290,937 shares of the industrial products company’s stock worth $300,340,000 after purchasing an additional 60,064 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in RBC Bearings by 19.7% in the fourth quarter. Lord Abbett & CO. LLC now owns 297,516 shares of the industrial products company’s stock worth $39,004,000 after purchasing an additional 49,036 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in RBC Bearings by 36.6% in the fourth quarter. Bank of America Corp DE now owns 88,473 shares of the industrial products company’s stock worth $11,600,000 after purchasing an additional 23,721 shares during the last quarter. 97.00% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on ROLL shares. BidaskClub cut RBC Bearings from a “sell” rating to a “strong sell” rating in a research report on Saturday, March 30th. ValuEngine raised RBC Bearings from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Zacks Investment Research raised RBC Bearings from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. SunTrust Banks upped their price target on RBC Bearings to $137.00 and gave the company a “hold” rating in a research report on Friday, May 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. RBC Bearings currently has an average rating of “Hold” and a consensus target price of $161.33.
Shares of NASDAQ ROLL opened at $153.93 on Friday. RBC Bearings Incorporated has a one year low of $123.50 and a one year high of $169.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.87 and a current ratio of 5.58. The firm has a market cap of $3.79 billion, a PE ratio of 31.48, a PEG ratio of 4.89 and a beta of 1.24.
RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Thursday, May 23rd. The industrial products company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.11. The firm had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $180.76 million. RBC Bearings had a return on equity of 13.01% and a net margin of 14.97%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 EPS. As a group, research analysts expect that RBC Bearings Incorporated will post 5.31 EPS for the current fiscal year.
In related news, VP Patrick S. Bannon sold 1,693 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $147.00, for a total transaction of $248,871.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael J. Hartnett sold 5,381 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $150.48, for a total value of $809,732.88. The disclosure for this sale can be found here. Insiders have sold a total of 17,075 shares of company stock worth $2,445,102 in the last three months. 3.10% of the stock is currently owned by insiders.
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RBC Bearings Company 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.
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