1,875 Shares in RBC Bearings Incorporated (ROLL) Purchased by Comerica Bank

Comerica Bank bought a new position in shares of RBC Bearings Incorporated (NASDAQ:ROLL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,875 shares of the industrial products company’s stock, valued at approximately $230,000.

Several other large investors have also modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of RBC Bearings by 2.4% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,258,487 shares of the industrial products company’s stock worth $229,824,000 after purchasing an additional 53,909 shares during the period. BlackRock Inc. raised its holdings in shares of RBC Bearings by 2.8% during the second quarter. BlackRock Inc. now owns 1,844,217 shares of the industrial products company’s stock worth $187,666,000 after purchasing an additional 49,694 shares during the period. Vanguard Group Inc. raised its holdings in shares of RBC Bearings by 0.7% during the second quarter. Vanguard Group Inc. now owns 1,817,613 shares of the industrial products company’s stock worth $184,960,000 after purchasing an additional 12,863 shares during the period. Wasatch Advisors Inc. raised its holdings in shares of RBC Bearings by 131.3% during the second quarter. Wasatch Advisors Inc. now owns 858,702 shares of the industrial products company’s stock worth $87,382,000 after purchasing an additional 487,495 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of RBC Bearings by 0.8% during the second quarter. Wells Fargo & Company MN now owns 615,432 shares of the industrial products company’s stock worth $62,627,000 after purchasing an additional 4,911 shares during the period. 99.52% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on ROLL shares. Zacks Investment Research cut shares of RBC Bearings from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. CL King started coverage on shares of RBC Bearings in a report on Wednesday, November 29th. They set a “buy” rating and a $142.00 target price on the stock. Bank of America increased their target price on shares of RBC Bearings from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. ValuEngine cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, BidaskClub raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $139.33.

Shares of RBC Bearings Incorporated (ROLL) opened at $127.60 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.68 and a quick ratio of 1.64. RBC Bearings Incorporated has a twelve month low of $83.80 and a twelve month high of $139.95. The firm has a market cap of $3,179.03, a PE ratio of 38.91, a P/E/G ratio of 6.15 and a beta of 1.34.

RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Friday, November 3rd. The industrial products company reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.02). RBC Bearings had a return on equity of 11.10% and a net margin of 11.18%. The firm had revenue of $164.30 million during the quarter, compared to analyst estimates of $164.56 million. During the same period last year, the business earned $0.78 EPS. The firm’s revenue was up 6.8% on a year-over-year basis. analysts expect that RBC Bearings Incorporated will post 3.63 earnings per share for the current year.

In related news, VP Thomas C. Crainer sold 15,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $120.76, for a total value of $1,811,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Richard J. Edwards sold 10,000 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $121.54, for a total transaction of $1,215,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,300 shares of company stock worth $3,837,484. Corporate insiders own 3.70% of the company’s stock.

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About RBC Bearings

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.

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

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