Ameriprise Financial Inc. purchased a new position in shares of RBC Bearings Incorporated (NASDAQ:ROLL) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 13,086 shares of the industrial products company’s stock, valued at approximately $1,637,000.

Several other hedge funds have also recently bought and sold shares of ROLL. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of RBC Bearings by 106.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 637 shares during the period. SG Americas Securities LLC bought a new position in shares of RBC Bearings during the 3rd quarter worth $189,000. Victory Capital Management Inc. grew its stake in shares of RBC Bearings by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,024 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 302 shares during the period. Comerica Bank bought a new position in shares of RBC Bearings during the 3rd quarter worth $230,000. Finally, Strs Ohio grew its stake in shares of RBC Bearings by 58.3% during the 3rd quarter. Strs Ohio now owns 1,900 shares of the industrial products company’s stock worth $237,000 after acquiring an additional 700 shares during the period. Institutional investors own 97.89% of the company’s stock.

Several research firms have recently weighed in on ROLL. Zacks Investment Research upgraded RBC Bearings from a “hold” rating to a “buy” rating and set a $141.00 price target for the company in a research note on Monday. Drexel Hamilton assumed coverage on RBC Bearings in a research note on Thursday, December 21st. They issued a “buy” rating and a $140.00 target price for the company. BidaskClub downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. ValuEngine downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, CL King assumed coverage on RBC Bearings in a research note on Wednesday, November 29th. They issued a “buy” rating and a $142.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $140.75.

RBC Bearings Incorporated (NASDAQ ROLL) opened at $125.06 on Tuesday. RBC Bearings Incorporated has a 12 month low of $87.61 and a 12 month high of $139.95. The company has a quick ratio of 1.64, a current ratio of 4.68 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $3,030.00, a PE ratio of 42.39, a price-to-earnings-growth ratio of 5.90 and a beta of 1.35.

RBC Bearings (NASDAQ:ROLL) last issued its earnings results on Friday, November 3rd. The industrial products company reported $0.83 EPS for the quarter, missing the 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 company had revenue of $164.30 million during the quarter, compared to the consensus estimate of $164.56 million. During the same quarter in the prior year, the business earned $0.78 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. equities analysts expect that RBC Bearings Incorporated will post 3.63 earnings per share for the current year.

In other RBC Bearings news, VP Richard J. Edwards sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $121.54, for a total value of $1,215,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas C. Crainer sold 15,000 shares of RBC Bearings 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 37,487 shares of company stock valued at $4,632,657. 3.70% of the stock is owned by corporate insiders.

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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.

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

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