Arizona State Retirement System Boosts Stock Position in RBC Bearings Incorporated (NASDAQ:ROLL)

Arizona State Retirement System grew its position in RBC Bearings Incorporated (NASDAQ:ROLLGet Rating) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,804 shares of the industrial products company’s stock after acquiring an additional 155 shares during the quarter. Arizona State Retirement System’s holdings in RBC Bearings were worth $1,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Torray LLC increased its holdings in shares of RBC Bearings by 5.1% in the 1st quarter. Torray LLC now owns 7,658 shares of the industrial products company’s stock valued at $1,485,000 after acquiring an additional 369 shares during the last quarter. DAVENPORT & Co LLC boosted its position in RBC Bearings by 0.9% during the 1st quarter. DAVENPORT & Co LLC now owns 7,857 shares of the industrial products company’s stock worth $1,523,000 after acquiring an additional 72 shares during the period. Atria Investments LLC boosted its position in RBC Bearings by 11.3% during the 1st quarter. Atria Investments LLC now owns 6,847 shares of the industrial products company’s stock worth $1,327,000 after acquiring an additional 694 shares during the period. Geneva Capital Management LLC boosted its position in RBC Bearings by 8.0% during the 1st quarter. Geneva Capital Management LLC now owns 531,473 shares of the industrial products company’s stock worth $103,042,000 after acquiring an additional 39,450 shares during the period. Finally, Whittier Trust Co. lifted its holdings in shares of RBC Bearings by 5.1% in the first quarter. Whittier Trust Co. now owns 51,514 shares of the industrial products company’s stock valued at $9,987,000 after buying an additional 2,485 shares during the period.

RBC Bearings Stock Up 1.9 %

NASDAQ:ROLL opened at $240.51 on Tuesday. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 118.00, a PEG ratio of 6.97 and a beta of 1.36. RBC Bearings Incorporated has a 1-year low of $152.90 and a 1-year high of $242.74. The company has a current ratio of 3.07, a quick ratio of 1.42 and a debt-to-equity ratio of 0.71. The business’s fifty day moving average price is $192.90 and its 200 day moving average price is $186.40.

RBC Bearings (NASDAQ:ROLLGet Rating) last posted its quarterly earnings results on Thursday, May 26th. The industrial products company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.20. The firm had revenue of $358.90 million for the quarter, compared to analyst estimates of $349.91 million. RBC Bearings had a return on equity of 5.40% and a net margin of 6.30%. RBC Bearings’s quarterly revenue was up 123.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 earnings per share. On average, sell-side analysts forecast that RBC Bearings Incorporated will post 5.77 earnings per share for the current fiscal year.

Insider Activity at RBC Bearings

In other RBC Bearings news, Director Alan B. Levine sold 1,600 shares of the company’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $211.00, for a total value of $337,600.00. Following the transaction, the director now directly owns 20,027 shares of the company’s stock, valued at approximately $4,225,697. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other RBC Bearings news, Director Alan B. Levine sold 1,600 shares of the company’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $211.00, for a total value of $337,600.00. Following the transaction, the director now directly owns 20,027 shares of the company’s stock, valued at approximately $4,225,697. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven H. Kaplan sold 400 shares of the company’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $200.05, for a total value of $80,020.00. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at $1,500,375. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,000 shares of company stock valued at $2,408,320. Company insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

ROLL has been the subject of several research analyst reports. StockNews.com upgraded RBC Bearings from a “sell” rating to a “hold” rating in a report on Friday, May 27th. Royal Bank of Canada lowered RBC Bearings from a “buy” rating to a “neutral” rating and cut their price objective for the company from $218.00 to $193.00 in a report on Thursday, June 23rd. They noted that the move was a valuation call. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and cut their price objective for the company from $218.00 to $193.00 in a report on Thursday, June 23rd. Truist Financial cut their price objective on RBC Bearings from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. Finally, TheStreet downgraded RBC Bearings from a “b-” rating to a “c+” rating in a report on Thursday, April 28th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $222.29.

RBC Bearings Company Profile

(Get Rating)

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.

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Institutional Ownership by Quarter for RBC Bearings (NASDAQ:ROLL)

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