Nisa Investment Advisors LLC Cuts Stock Holdings in RBC Bearings Incorporated (NASDAQ:ROLL)

Nisa Investment Advisors LLC reduced its position in shares of RBC Bearings Incorporated (NASDAQ:ROLLGet Rating) by 55.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200 shares of the industrial products company’s stock after selling 250 shares during the period. Nisa Investment Advisors LLC’s holdings in RBC Bearings were worth $39,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Conestoga Capital Advisors LLC increased its stake in RBC Bearings by 1.2% during the 1st quarter. Conestoga Capital Advisors LLC now owns 804,703 shares of the industrial products company’s stock worth $156,016,000 after buying an additional 9,622 shares in the last quarter. GW&K Investment Management LLC grew its position in shares of RBC Bearings by 2.9% in the fourth quarter. GW&K Investment Management LLC now owns 705,481 shares of the industrial products company’s stock valued at $142,486,000 after purchasing an additional 20,162 shares in the last quarter. State Street Corp grew its position in shares of RBC Bearings by 9.0% in the fourth quarter. State Street Corp now owns 542,820 shares of the industrial products company’s stock valued at $109,633,000 after purchasing an additional 44,842 shares in the last quarter. Geode Capital Management LLC grew its position in shares of RBC Bearings by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 519,176 shares of the industrial products company’s stock valued at $104,857,000 after purchasing an additional 31,750 shares in the last quarter. Finally, Snyder Capital Management L P grew its position in shares of RBC Bearings by 6.3% in the fourth quarter. Snyder Capital Management L P now owns 451,885 shares of the industrial products company’s stock valued at $91,267,000 after purchasing an additional 26,595 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ROLL. TheStreet lowered RBC Bearings from a “b-” rating to a “c+” rating in a research report on Thursday, April 28th. StockNews.com upgraded RBC Bearings from a “sell” rating to a “hold” rating in a research report on Friday, May 27th. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and dropped their price target for the company from $218.00 to $193.00 in a research report on Thursday, June 23rd. Royal Bank of Canada lowered RBC Bearings from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $218.00 to $193.00 in a research report on Thursday, June 23rd. They noted that the move was a valuation call. Finally, Truist Financial lowered their price objective on RBC Bearings from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, July 19th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $222.29.

RBC Bearings Trading Up 2.4 %

Shares of RBC Bearings stock opened at $236.00 on Friday. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 118.00, a PEG ratio of 6.37 and a beta of 1.28. RBC Bearings Incorporated has a fifty-two week low of $152.90 and a fifty-two week high of $242.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.42 and a current ratio of 3.07. The stock has a 50 day moving average of $192.90 and a 200 day moving average of $186.62.

RBC Bearings (NASDAQ:ROLLGet Rating) last released its quarterly earnings results on Thursday, May 26th. The industrial products company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.20. RBC Bearings had a return on equity of 5.40% and a net margin of 6.30%. The company had revenue of $358.90 million for the quarter, compared to analysts’ expectations of $349.91 million. During the same period in the prior year, the firm earned $1.08 earnings per share. The firm’s revenue was up 123.9% compared to the same quarter last year. As a group, research analysts predict that RBC Bearings Incorporated will post 5.77 earnings per share for the current year.

Insiders Place Their Bets

In other RBC Bearings news, Director Alan B. Levine sold 1,600 shares of the company’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $211.00, for a total transaction of $337,600.00. Following the transaction, the director now directly owns 20,027 shares in the company, valued at $4,225,697. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RBC Bearings news, Director Alan B. Levine sold 1,600 shares of the company’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $211.00, for a total transaction of $337,600.00. Following the transaction, the director now directly owns 20,027 shares in the company, valued at $4,225,697. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven H. Kaplan sold 400 shares of the company’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $200.05, for a total value of $80,020.00. Following the transaction, the director now owns 7,500 shares in the company, valued at $1,500,375. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock worth $2,408,320 over the last ninety days. Corporate insiders own 2.70% of the company’s stock.

RBC Bearings Company Profile

(Get Rating)

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.

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