Whittier Trust Co. Acquires 238 Shares of RBC Bearings Inc. (ROLL)
Whittier Trust Co. raised its position in shares of RBC Bearings Inc. (NASDAQ:ROLL) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 19,865 shares of the company’s stock after buying an additional 238 shares during the period. Whittier Trust Co.’s holdings in RBC Bearings were worth $1,440,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of ROLL. TimesSquare Capital Management LLC increased its stake in shares of RBC Bearings by 9.5% in the first quarter. TimesSquare Capital Management LLC now owns 864,328 shares of the company’s stock worth $63,321,000 after buying an additional 75,250 shares in the last quarter. Palisade Capital Management LLC NJ bought a new stake in shares of RBC Bearings during the first quarter worth about $3,163,000. Goldman Sachs Group Inc. increased its stake in shares of RBC Bearings by 4.8% in the first quarter. Goldman Sachs Group Inc. now owns 605,407 shares of the company’s stock worth $44,352,000 after buying an additional 27,632 shares in the last quarter. Royce & Associates LP increased its stake in shares of RBC Bearings by 2.4% in the first quarter. Royce & Associates LP now owns 976,971 shares of the company’s stock worth $71,573,000 after buying an additional 22,900 shares in the last quarter. Finally, GW&K Investment Management LLC increased its stake in shares of RBC Bearings by 2.2% in the second quarter. GW&K Investment Management LLC now owns 524,157 shares of the company’s stock worth $38,001,000 after buying an additional 11,278 shares in the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.
RBC Bearings Inc. (NASDAQ:ROLL) traded down 2.05% during mid-day trading on Friday, hitting $76.26. The stock had a trading volume of 99,462 shares. The firm’s 50-day moving average price is $76.98 and its 200 day moving average price is $74.86. The company has a market cap of $1.78 billion, a PE ratio of 26.21 and a beta of 1.19. RBC Bearings Inc. has a one year low of $54.38 and a one year high of $87.82.
RBC Bearings (NASDAQ:ROLL) last announced its earnings results on Thursday, August 4th. The company reported $0.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The business had revenue of $154.58 million for the quarter, compared to analyst estimates of $152.83 million. RBC Bearings had a return on equity of 12.05% and a net margin of 11.24%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. On average, equities research analysts anticipate that RBC Bearings Inc. will post $3.34 EPS for the current year.
Separately, Zacks Investment Research upgraded RBC Bearings from a “sell” rating to a “hold” rating in a research report on Friday, September 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $74.80.
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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