RBC Bearings Incorporated (NASDAQ:ROLL) Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC lowered its position in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 15.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,650 shares of the industrial products company’s stock after selling 18,889 shares during the period. Stephens Investment Management Group LLC owned approximately 0.42% of RBC Bearings worth $14,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of RBC Bearings by 8.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,566,573 shares of the industrial products company’s stock worth $342,818,000 after buying an additional 191,437 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in RBC Bearings by 3.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,028,906 shares of the industrial products company’s stock valued at $116,050,000 after purchasing an additional 37,008 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in RBC Bearings by 23.9% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 635,886 shares of the industrial products company’s stock valued at $85,234,000 after purchasing an additional 122,525 shares during the last quarter. State Street Corp increased its holdings in RBC Bearings by 0.3% in the 1st quarter. State Street Corp now owns 504,463 shares of the industrial products company’s stock valued at $56,898,000 after purchasing an additional 1,321 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in RBC Bearings by 5.2% in the 1st quarter. Geode Capital Management LLC now owns 354,946 shares of the industrial products company’s stock valued at $40,034,000 after purchasing an additional 17,660 shares during the last quarter. Institutional investors and hedge funds own 96.30% of the company’s stock.

Several research firms recently weighed in on ROLL. SunTrust Banks reiterated a “sell” rating and issued a $85.00 target price on shares of RBC Bearings in a report on Wednesday, July 15th. BidaskClub downgraded shares of RBC Bearings from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 2nd. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a report on Friday, August 7th. Alembic Global Advisors upgraded shares of RBC Bearings from a “neutral” rating to an “overweight” rating in a report on Monday, August 10th. Finally, Royal Bank of Canada raised shares of RBC Bearings from a “neutral” rating to an “overweight” rating in a research report on Monday, August 10th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $138.00.

In other news, CFO Daniel A. Bergeron sold 20,000 shares of RBC Bearings stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $144.43, for a total transaction of $2,888,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Hartnett sold 6,262 shares of RBC Bearings stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $145.07, for a total transaction of $908,428.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,762 shares of company stock valued at $6,950,378. Corporate insiders own 3.50% of the company’s stock.

ROLL stock traded up $2.28 during midday trading on Wednesday, hitting $127.22. The company’s stock had a trading volume of 1,249 shares, compared to its average volume of 131,884. The company has a quick ratio of 2.67, a current ratio of 6.37 and a debt-to-equity ratio of 0.01. RBC Bearings Incorporated has a 52-week low of $77.63 and a 52-week high of $185.05. The firm has a market capitalization of $3.13 billion, a P/E ratio of 26.92 and a beta of 1.20. The firm has a 50-day simple moving average of $130.09 and a 200-day simple moving average of $129.06.

RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.04. RBC Bearings had a net margin of 16.86% and a return on equity of 10.82%. The company had revenue of $156.49 million during the quarter, compared to analysts’ expectations of $152.72 million. During the same quarter last year, the company posted $1.23 EPS. The firm’s revenue was down 14.3% compared to the same quarter last year. On average, sell-side analysts expect that RBC Bearings Incorporated will post 3.76 earnings per share for the current fiscal year.

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.

Further Reading: Dividend

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

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