Chevy Chase Trust Holdings Inc. continued to hold its position in shares of RBC Bearings Incorporated (NASDAQ:ROLL) during the second quarter, according to its most recent filing with the SEC. The firm owned 4,000 shares of the industrial products company’s stock at the end of the second quarter. Chevy Chase Trust Holdings Inc.’s holdings in RBC Bearings were worth $407,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of ROLL. Victory Capital Management Inc. raised its position in shares of RBC Bearings by 6.3% in the first quarter. Victory Capital Management Inc. now owns 1,722 shares of the industrial products company’s stock valued at $167,000 after buying an additional 102 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of RBC Bearings during the fourth quarter worth $180,000. Ameritas Investment Partners Inc. purchased a new stake in shares of RBC Bearings during the first quarter worth $190,000. BB&T Corp raised its stake in shares of RBC Bearings by 2.7% in the first quarter. BB&T Corp now owns 3,115 shares of the industrial products company’s stock worth $302,000 after buying an additional 81 shares in the last quarter. Finally, Karp Capital Management Corp bought a new stake in RBC Bearings during the first quarter worth approximately $323,000.
RBC Bearings Incorporated (NASDAQ ROLL) traded down 0.78% on Friday, reaching $104.48. The company had a trading volume of 61,155 shares. RBC Bearings Incorporated has a one year low of $67.99 and a one year high of $111.04. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 33.57 and a beta of 1.30. The company’s 50 day moving average is $103.30 and its 200-day moving average is $98.43.
RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.09. The business had revenue of $163.90 million during the quarter, compared to analysts’ expectations of $160.42 million. RBC Bearings had a net margin of 11.91% and a return on equity of 11.25%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $0.77 earnings per share. On average, equities research analysts expect that RBC Bearings Incorporated will post $3.63 earnings per share for the current fiscal year.
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ROLL has been the topic of a number of recent analyst reports. Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $113.00 price objective on the stock in a research note on Friday, June 2nd. BidaskClub downgraded RBC Bearings from a “hold” rating to a “sell” rating in a research note on Friday, July 28th.
In related news, insider Michael J. Hartnett sold 13,551 shares of the firm’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $105.27, for a total transaction of $1,426,513.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas M. Burigo sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $104.95, for a total transaction of $1,049,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,425 shares of company stock valued at $14,249,574. Corporate insiders own 3.70% of the company’s stock.
About RBC Bearings
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision bearings and products, which are integral to the manufacture and operation of machines, aircraft and mechanical systems. The Company operates through four segments: Plain Bearings; Roller Bearings; Ball Bearings, and Engineered Products.
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