First Trust Advisors LP lowered its holdings in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 26.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,249 shares of the industrial products company’s stock after selling 21,137 shares during the quarter. First Trust Advisors LP owned 0.24% of RBC Bearings worth $7,290,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ROLL. BlackRock Inc. raised its position in shares of RBC Bearings by 90,578.3% during the first quarter. BlackRock Inc. now owns 1,794,523 shares of the industrial products company’s stock worth $174,231,000 after purchasing an additional 1,792,544 shares during the period. Wasatch Advisors Inc. raised its position in shares of RBC Bearings by 131.3% during the second quarter. Wasatch Advisors Inc. now owns 858,702 shares of the industrial products company’s stock worth $87,382,000 after purchasing an additional 487,495 shares during the period. Janus Henderson Group PLC raised its position in shares of RBC Bearings by 56.1% during the second quarter. Janus Henderson Group PLC now owns 492,837 shares of the industrial products company’s stock worth $50,151,000 after purchasing an additional 177,117 shares during the period. Vanguard Group Inc. raised its position in shares of RBC Bearings by 5.7% during the first quarter. Vanguard Group Inc. now owns 1,804,750 shares of the industrial products company’s stock worth $175,223,000 after purchasing an additional 96,915 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of RBC Bearings by 311.9% during the second quarter. Russell Investments Group Ltd. now owns 88,067 shares of the industrial products company’s stock worth $8,962,000 after purchasing an additional 66,685 shares during the period. 99.18% of the stock is currently owned by institutional investors.
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RBC Bearings Incorporated (NASDAQ ROLL) opened at $123.11 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.68 and a quick ratio of 1.64. The firm has a market capitalization of $2,974.16, a P/E ratio of 36.40, a price-to-earnings-growth ratio of 5.76 and a beta of 1.34. RBC Bearings Incorporated has a one year low of $79.78 and a one year high of $135.54.
RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings results on Friday, November 3rd. The industrial products company reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.02). RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. The company had revenue of $164.30 million during the quarter, compared to the consensus estimate of $164.56 million. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. equities research analysts predict that RBC Bearings Incorporated will post 3.63 EPS for the current year.
In other news, VP Richard J. Edwards sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $121.54, for a total value of $1,215,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.70% of the company’s stock.
A number of research analysts recently issued reports on ROLL shares. BidaskClub downgraded RBC Bearings from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research downgraded RBC Bearings from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Finally, Bank of America Corporation increased their price objective on RBC Bearings from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th.
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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