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

StockNews.com assumed coverage on shares of RBC Bearings (NASDAQ:ROLL) in a report issued on Wednesday. The firm set a “hold” rating on the stock.

RBC Bearings Stock Performance

Shares of NASDAQ ROLL opened at $242.79 on Wednesday. The stock has a market cap of $7.02 billion, a PE ratio of 117.86 and a beta of 1.34. RBC Bearings has a fifty-two week low of $152.90 and a fifty-two week high of $264.94. The stock has a fifty day moving average of $264.69 and a 200-day moving average of $257.20.

Hedge Funds Weigh In On RBC Bearings

Hedge funds have recently made changes to their positions in the stock. Compass Wealth Management LLC purchased a new position in RBC Bearings during the fourth quarter worth about $31,000. Northwestern Mutual Wealth Management Co. grew its position in RBC Bearings by 70.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 205 shares of the company’s stock worth $43,000 after buying an additional 85 shares in the last quarter. Lazard Asset Management LLC grew its position in RBC Bearings by 34.4% during the fourth quarter. Lazard Asset Management LLC now owns 410 shares of the company’s stock worth $85,000 after buying an additional 105 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in RBC Bearings by 72.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 626 shares of the company’s stock worth $131,000 after buying an additional 262 shares in the last quarter. Finally, Point72 Middle East FZE purchased a new position in RBC Bearings during the fourth quarter worth about $189,000.

RBC Bearings Company Profile

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.