RBC Bearings (NASDAQ:ROLL) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of RBC Bearings (NASDAQ:ROLLFree Report) in a research note released on Sunday morning. The brokerage issued a hold rating on the stock.

RBC Bearings Price Performance

Shares of NASDAQ:ROLL opened at $212.38 on Friday. RBC Bearings has a 12 month low of $152.90 and a 12 month high of $264.94. The business’s 50 day simple moving average is $269.38 and its 200-day simple moving average is $254.37. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 128.58 and a beta of 1.34.

Institutional Trading of RBC Bearings

A number of institutional investors and hedge funds have recently made changes to their positions in ROLL. Norges Bank purchased a new position in RBC Bearings in the 4th quarter valued at about $41,855,000. Durable Capital Partners LP raised its stake in RBC Bearings by 9.0% during the fourth quarter. Durable Capital Partners LP now owns 1,855,997 shares of the company’s stock worth $388,553,000 after acquiring an additional 153,744 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of RBC Bearings by 3.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,980,496 shares of the company’s stock valued at $623,967,000 after purchasing an additional 103,450 shares during the period. Jane Street Group LLC increased its stake in shares of RBC Bearings by 1,462.9% in the third quarter. Jane Street Group LLC now owns 32,820 shares of the company’s stock valued at $6,820,000 after purchasing an additional 30,720 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of RBC Bearings in the third quarter valued at approximately $2,992,000.

About RBC Bearings

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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.

Further Reading

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