US Bancorp DE trimmed its position in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 15.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,629 shares of the industrial products company’s stock after selling 1,443 shares during the quarter. US Bancorp DE’s holdings in RBC Bearings were worth $1,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Champlain Investment Partners LLC bought a new stake in shares of RBC Bearings in the third quarter worth $16,424,000. Bradley Foster & Sargent Inc. CT bought a new stake in shares of RBC Bearings during the 3rd quarter valued at about $13,649,000. Neuberger Berman Group LLC increased its position in shares of RBC Bearings by 6.7% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,500,077 shares of the industrial products company’s stock valued at $181,570,000 after purchasing an additional 94,511 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of RBC Bearings by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,155,504 shares of the industrial products company’s stock worth $140,843,000 after purchasing an additional 65,957 shares during the period. Finally, Raymond James & Associates boosted its holdings in shares of RBC Bearings by 23.9% in the third quarter. Raymond James & Associates now owns 188,527 shares of the industrial products company’s stock worth $22,851,000 after buying an additional 36,335 shares during the last quarter. 96.49% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on ROLL shares. Royal Bank of Canada reaffirmed a “sell” rating on shares of RBC Bearings in a report on Tuesday, February 9th. Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $194.00 price target on the stock in a research report on Friday, January 22nd. Truist increased their price target on shares of RBC Bearings from $118.00 to $140.00 in a research report on Tuesday, February 2nd. Finally, TheStreet upgraded shares of RBC Bearings from a “c+” rating to a “b” rating in a research report on Monday, December 14th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $134.50.
Shares of ROLL stock opened at $195.44 on Tuesday. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 45.45 and a beta of 1.41. RBC Bearings Incorporated has a one year low of $77.63 and a one year high of $196.28. The company’s fifty day moving average price is $182.48 and its 200-day moving average price is $154.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.47 and a quick ratio of 3.27.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings data on Thursday, January 28th. The industrial products company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.05. The firm had revenue of $145.86 million for the quarter, compared to the consensus estimate of $142.22 million. RBC Bearings had a net margin of 16.13% and a return on equity of 9.70%. The company’s revenue was down 17.6% on a year-over-year basis. During the same period last year, the firm earned $1.22 EPS. Equities research analysts expect that RBC Bearings Incorporated will post 3.76 earnings per share 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 through 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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