US Bancorp DE lessened its position in RBC Bearings Incorporated (NASDAQ:ROLL) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,757 shares of the industrial products company’s stock after selling 722 shares during the period. US Bancorp DE’s holdings in RBC Bearings were worth $4,964,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in ROLL. Kavar Capital Partners LLC acquired a new position in shares of RBC Bearings in the 2nd quarter valued at approximately $32,000. Advisory Services Network LLC grew its holdings in RBC Bearings by 20.8% during the 1st quarter. Advisory Services Network LLC now owns 697 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 120 shares during the last quarter. YorkBridge Wealth Partners LLC grew its holdings in RBC Bearings by 43.2% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 838 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 253 shares during the last quarter. Parallel Advisors LLC grew its holdings in RBC Bearings by 27.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,204 shares of the industrial products company’s stock worth $201,000 after acquiring an additional 256 shares during the last quarter. Finally, Park National Corp OH bought a new stake in shares of RBC Bearings in the 2nd quarter valued at $204,000. 98.53% of the stock is owned by institutional investors.
ROLL has been the topic of a number of research reports. SunTrust Banks boosted their target price on shares of RBC Bearings to $137.00 and gave the company a “hold” rating in a research report on Friday, May 24th. ValuEngine upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. BidaskClub lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research report on Friday, May 24th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $161.33.
NASDAQ:ROLL traded down $2.06 during trading hours on Thursday, hitting $163.15. The company had a trading volume of 2,236 shares, compared to its average volume of 89,586. The company has a market capitalization of $4.15 billion, a PE ratio of 33.81, a price-to-earnings-growth ratio of 5.36 and a beta of 1.23. The stock has a 50-day moving average price of $159.65 and a 200 day moving average price of $148.13. RBC Bearings Incorporated has a 52 week low of $123.50 and a 52 week high of $171.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.15 and a quick ratio of 1.72.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. The business had revenue of $182.69 million for the quarter, compared to analysts’ expectations of $183.13 million. RBC Bearings had a net margin of 15.26% and a return on equity of 12.82%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 earnings per share. Analysts anticipate that RBC Bearings Incorporated will post 5.3 EPS for the current fiscal year.
About RBC Bearings
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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