Eaton Vance Management decreased its stake in RBC Bearings Incorporated (NASDAQ:ROLL) by 18.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,715 shares of the industrial products company’s stock after selling 18,841 shares during the quarter. Eaton Vance Management’s holdings in RBC Bearings were worth $10,202,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in ROLL. SG Americas Securities LLC bought a new position in RBC Bearings in the 3rd quarter valued at $189,000. Global X Management Co. LLC raised its position in RBC Bearings by 75.0% in the 4th quarter. Global X Management Co. LLC now owns 1,645 shares of the industrial products company’s stock valued at $208,000 after purchasing an additional 705 shares during the last quarter. Comerica Bank bought a new position in RBC Bearings in the 3rd quarter valued at $230,000. Strs Ohio raised its position in RBC Bearings by 58.3% in the 3rd quarter. Strs Ohio now owns 1,900 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 700 shares during the last quarter. Finally, Parametrica Management Ltd bought a new position in RBC Bearings in the 3rd quarter valued at $238,000. 98.00% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on ROLL shares. Zacks Investment Research upgraded RBC Bearings from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a research report on Friday, February 2nd. CL King started coverage on RBC Bearings in a research report on Wednesday, November 29th. They issued a “buy” rating and a $142.00 price objective for the company. Bank of America lifted their price objective on RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. BidaskClub downgraded RBC Bearings from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 6th. Finally, Drexel Hamilton started coverage on RBC Bearings in a research report on Thursday, December 21st. They issued a “buy” rating and a $140.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. RBC Bearings has an average rating of “Buy” and an average price target of $141.00.
RBC Bearings Incorporated (NASDAQ:ROLL) opened at $121.91 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.65 and a quick ratio of 1.65. RBC Bearings Incorporated has a 52-week low of $88.70 and a 52-week high of $139.95. The stock has a market capitalization of $3,058.53, a price-to-earnings ratio of 36.07, a price-to-earnings-growth ratio of 5.49 and a beta of 1.29.
RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.19. The firm had revenue of $166.86 million during the quarter, compared to the consensus estimate of $163.46 million. RBC Bearings had a return on equity of 11.79% and a net margin of 12.52%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. equities research analysts expect that RBC Bearings Incorporated will post 3.91 earnings per share for the current year.
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.
Want to see what other hedge funds are holding ROLL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RBC Bearings Incorporated (NASDAQ:ROLL).
Receive News & Ratings for RBC Bearings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RBC Bearings and related companies with MarketBeat.com's FREE daily email newsletter.