RBC Bearings Incorporated (ROLL) Stake Increased by New York State Common Retirement Fund

New York State Common Retirement Fund increased its holdings in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 14.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,782 shares of the industrial products company’s stock after purchasing an additional 4,942 shares during the quarter. New York State Common Retirement Fund owned 0.16% of RBC Bearings worth $4,979,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake in RBC Bearings by 2.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,258,487 shares of the industrial products company’s stock worth $229,824,000 after purchasing an additional 53,909 shares in the last quarter. BlackRock Inc. increased its stake in RBC Bearings by 2.8% during the 2nd quarter. BlackRock Inc. now owns 1,844,217 shares of the industrial products company’s stock worth $187,666,000 after purchasing an additional 49,694 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of RBC Bearings by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,817,613 shares of the industrial products company’s stock worth $184,960,000 after acquiring an additional 12,863 shares in the last quarter. Wasatch Advisors Inc. grew its stake in shares of RBC Bearings by 131.3% during the 2nd quarter. Wasatch Advisors Inc. now owns 858,702 shares of the industrial products company’s stock worth $87,382,000 after acquiring an additional 487,495 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of RBC Bearings by 0.8% during the 2nd quarter. Wells Fargo & Company MN now owns 615,432 shares of the industrial products company’s stock worth $62,627,000 after acquiring an additional 4,911 shares in the last quarter. 97.89% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on ROLL shares. Bank of America raised their price target on shares of RBC Bearings from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research raised shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $136.00 price target for the company in a research note on Tuesday, September 26th. Drexel Hamilton started coverage on shares of RBC Bearings in a research note on Thursday, December 21st. They set a “buy” rating and a $140.00 price target for the company. BidaskClub cut shares of RBC Bearings from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Finally, ValuEngine cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. RBC Bearings presently has a consensus rating of “Hold” and an average target price of $139.50.

RBC Bearings Incorporated (NASDAQ ROLL) opened at $126.27 on Tuesday. The firm has a market cap of $3,060.00, a P/E ratio of 42.80, a PEG ratio of 5.91 and a beta of 1.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 4.68. RBC Bearings Incorporated has a 52 week low of $87.61 and a 52 week high of $139.95.

RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Friday, November 3rd. The industrial products company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.02). The company had revenue of $164.30 million during the quarter, compared to analyst estimates of $164.56 million. RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS. equities research analysts predict that RBC Bearings Incorporated will post 3.63 earnings per share for the current fiscal year.

In other news, VP Thomas C. Crainer sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $120.76, for a total value of $1,811,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard J. Edwards sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $121.54, for a total value of $1,215,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 36,487 shares of company stock valued at $4,504,657. 3.70% of the stock is currently owned by insiders.

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RBC Bearings Company Profile

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

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