Papp L Roy & Associates lifted its holdings in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 76.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,722 shares of the industrial products company’s stock after buying an additional 2,922 shares during the period. Papp L Roy & Associates’ holdings in RBC Bearings were worth $866,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ROLL. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of RBC Bearings by 31.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,628 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 391 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of RBC Bearings by 58.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,857 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 687 shares in the last quarter. Guggenheim Capital LLC acquired a new stake in shares of RBC Bearings during the 4th quarter worth approximately $276,000. Ramsey Quantitative Systems acquired a new stake in shares of RBC Bearings during the 2nd quarter worth approximately $319,000. Finally, Victory Capital Management Inc. boosted its position in shares of RBC Bearings by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 3,038 shares of the industrial products company’s stock worth $391,000 after acquiring an additional 417 shares in the last quarter. 96.56% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on ROLL shares. BidaskClub upgraded shares of RBC Bearings from a “sell” rating to a “hold” rating in a research report on Saturday, May 26th. William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Thursday, May 31st. SunTrust Banks began coverage on shares of RBC Bearings in a research note on Wednesday, June 20th. They set a “hold” rating and a $133.00 price target for the company. Zacks Investment Research raised shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research note on Tuesday, July 31st. Finally, Royal Bank of Canada reissued a “sell” rating on shares of RBC Bearings in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. RBC Bearings currently has a consensus rating of “Buy” and a consensus price target of $142.80.

ROLL traded up $1.43 during midday trading on Friday, hitting $150.64. The company had a trading volume of 72,890 shares, compared to its average volume of 55,590. The company has a market cap of $3.71 billion, a P/E ratio of 38.93, a price-to-earnings-growth ratio of 5.44 and a beta of 1.50. RBC Bearings Incorporated has a 52 week low of $106.68 and a 52 week high of $156.43. The company has a current ratio of 5.79, a quick ratio of 2.12 and a debt-to-equity ratio of 0.17.

RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.10. The firm had revenue of $176.00 million during the quarter, compared to analysts’ expectations of $174.32 million. RBC Bearings had a net margin of 13.51% and a return on equity of 12.29%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. research analysts forecast that RBC Bearings Incorporated will post 4.73 EPS for the current fiscal year.

In related news, Director Richard R. Crowell sold 2,100 shares of the business’s stock in a transaction dated Monday, June 18th. The shares were sold at an average price of $129.71, for a total transaction of $272,391.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Hartnett sold 20,718 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $150.95, for a total transaction of $3,127,382.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 265,422 shares of company stock worth $37,778,591. 3.10% of the stock is owned by corporate insiders.

RBC Bearings Company 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.

See Also: Intrinsic Value and Stock Selection

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

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