California Public Employees Retirement System cut its stake in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 7.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 50,744 shares of the industrial products company’s stock after selling 4,291 shares during the period. California Public Employees Retirement System’s holdings in RBC Bearings were worth $6,536,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of ROLL. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of RBC Bearings by 31.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,628 shares of the industrial products company’s stock valued at $210,000 after acquiring an additional 391 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of RBC Bearings by 31.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,435 shares of the industrial products company’s stock valued at $314,000 after buying an additional 578 shares during the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of RBC Bearings during the second quarter valued at $319,000. Guggenheim Capital LLC boosted its position in shares of RBC Bearings by 34.7% during the first quarter. Guggenheim Capital LLC now owns 2,945 shares of the industrial products company’s stock valued at $366,000 after buying an additional 758 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of RBC Bearings by 15.9% during the second quarter. Victory Capital Management Inc. now owns 3,038 shares of the industrial products company’s stock valued at $391,000 after buying an additional 417 shares during the last quarter. Hedge funds and other institutional investors own 96.55% of the company’s stock.
ROLL has been the topic of several recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Thursday, September 27th. BidaskClub raised RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday, July 21st. SunTrust Banks initiated coverage on RBC Bearings in a research report on Wednesday, June 20th. They set a “hold” rating and a $133.00 price objective on the stock. Royal Bank of Canada reaffirmed a “sell” rating on shares of RBC Bearings in a research report on Thursday, August 9th. Finally, Zacks Investment Research cut RBC Bearings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $142.80.
RBC Bearings stock opened at $137.96 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.12 and a current ratio of 5.79. RBC Bearings Incorporated has a one year low of $111.61 and a one year high of $158.18. The firm has a market cap of $3.70 billion, a P/E ratio of 36.32, a price-to-earnings-growth ratio of 5.42 and a beta of 1.47.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.05 by $0.10. The company had revenue of $176.00 million for the quarter, compared to analysts’ expectations of $174.32 million. RBC Bearings had a return on equity of 12.29% and a net margin of 13.51%. RBC Bearings’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. As a group, equities analysts anticipate that RBC Bearings Incorporated will post 4.73 EPS for the current fiscal year.
In other RBC Bearings news, General Counsel Thomas J. Williams sold 13,841 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $140.32, for a total value of $1,942,169.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Richard J. Edwards sold 20,130 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $139.31, for a total value of $2,804,310.30. The disclosure for this sale can be found here. Insiders sold 288,886 shares of company stock worth $42,266,095 over the last three months. Insiders own 3.10% of the company’s stock.
RBC Bearings Profile
RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates in four segments: Plain Bearings, Roller Bearings, Ball Bearings, and Engineered Products. The Plain Bearings segment produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings that are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or in heavy mining and construction equipment.
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