First Mercantile Trust Co. decreased its stake in shares of RBC Bearings Inc. (NASDAQ:ROLL) by 6.5% during the second quarter, Holdings Channel reports. The fund owned 11,033 shares of the company’s stock after selling 769 shares during the period. First Mercantile Trust Co.’s holdings in RBC Bearings were worth $800,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Loomis Sayles & Co. L P raised its position in shares of RBC Bearings by 0.5% in the first quarter. Loomis Sayles & Co. L P now owns 741,550 shares of the company’s stock valued at $54,325,000 after buying an additional 3,900 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of RBC Bearings by 4.8% in the first quarter. Goldman Sachs Group Inc. now owns 605,407 shares of the company’s stock valued at $44,352,000 after buying an additional 27,632 shares during the period. State Street Corp increased its stake in shares of RBC Bearings by 2.9% in the first quarter. State Street Corp now owns 387,345 shares of the company’s stock valued at $28,377,000 after buying an additional 10,746 shares during the period. BB&T Securities LLC increased its stake in shares of RBC Bearings by 9.9% in the first quarter. BB&T Securities LLC now owns 7,459 shares of the company’s stock valued at $546,000 after buying an additional 670 shares during the period. Finally, Royce & Associates LP increased its stake in shares of RBC Bearings by 2.4% in the first quarter. Royce & Associates LP now owns 976,971 shares of the company’s stock valued at $71,573,000 after buying an additional 22,900 shares during the period. Institutional investors own 99.73% of the company’s stock.

Shares of RBC Bearings Inc. (NASDAQ:ROLL) opened at 74.78 on Tuesday. The stock has a market capitalization of $1.74 billion, a P/E ratio of 25.70 and a beta of 1.11. RBC Bearings Inc. has a 12 month low of $54.38 and a 12 month high of $87.82. The company’s 50 day moving average price is $77.33 and its 200-day moving average price is $74.23.

RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by $0.01. RBC Bearings had a return on equity of 12.05% and a net margin of 11.24%. The company earned $154.58 million during the quarter, compared to the consensus estimate of $152.83 million. During the same period in the prior year, the firm earned $0.78 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts predict that RBC Bearings Inc. will post $3.34 earnings per share for the current year.

Several analysts have recently commented on ROLL shares. Zacks Investment Research downgraded RBC Bearings from a “hold” rating to a “sell” rating in a research note on Friday, August 26th. Avondale Partners reissued a “buy” rating and issued a $80.00 price objective on shares of RBC Bearings in a research note on Tuesday, May 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $74.80.

In related news, CEO Michael J. Hartnett sold 15,242 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $72.90, for a total value of $1,111,141.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by insiders.

RBC Bearings Company Profile

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.

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