RBC Bearings Incorporated (ROLL) Position Lifted by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. increased its holdings in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 288,730 shares of the industrial products company’s stock after acquiring an additional 1,116 shares during the period. Goldman Sachs Group Inc. owned approximately 1.21% of RBC Bearings worth $29,381,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Strs Ohio grew its holdings in RBC Bearings by 71.4% during the second quarter. Strs Ohio now owns 1,200 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in RBC Bearings by 106.2% during the second 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. Victory Capital Management Inc. grew its holdings in RBC Bearings by 6.3% during the first quarter. Victory Capital Management Inc. now owns 1,722 shares of the industrial products company’s stock worth $167,000 after acquiring an additional 102 shares during the period. Ameritas Investment Partners Inc. acquired a new position in RBC Bearings during the first quarter worth $190,000. Finally, LLBH Private Wealth Management LLC acquired a new position in RBC Bearings during the second quarter worth $254,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on ROLL. Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $119.00 price objective on the stock in a report on Thursday, August 10th. BidaskClub raised RBC Bearings from a “sell” rating to a “hold” rating in a report on Saturday, August 19th.
RBC Bearings Incorporated (ROLL) opened at 126.59 on Wednesday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 40.68 and a beta of 1.32. The company’s 50-day moving average price is $116.52 and its 200-day moving average price is $105.05. RBC Bearings Incorporated has a one year low of $67.99 and a one year high of $135.54.
RBC Bearings (NASDAQ:ROLL) last posted its earnings results on Tuesday, August 8th. The industrial products company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.82 by $0.09. RBC Bearings had a return on equity of 11.25% and a net margin of 11.91%. The firm had revenue of $163.90 million for the quarter, compared to analysts’ expectations of $160.42 million. During the same period last year, the firm earned $0.77 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, analysts anticipate that RBC Bearings Incorporated will post $3.66 EPS 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.
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