Great West Life Assurance Co. Can raised its holdings in RBC Bearings Incorporated (NASDAQ:ROLL) by 44.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,002 shares of the industrial products company’s stock after acquiring an additional 928 shares during the period. Great West Life Assurance Co. Can’s holdings in RBC Bearings were worth $373,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. American International Group Inc. grew its position in RBC Bearings by 8.1% in the third quarter. American International Group Inc. now owns 15,520 shares of the industrial products company’s stock valued at $1,942,000 after acquiring an additional 1,160 shares during the last quarter. Wasatch Advisors Inc. grew its position in RBC Bearings by 15.9% in the third quarter. Wasatch Advisors Inc. now owns 995,306 shares of the industrial products company’s stock valued at $124,563,000 after acquiring an additional 136,604 shares during the last quarter. EAM Investors LLC bought a new position in RBC Bearings in the third quarter valued at about $2,484,000. Stephens Investment Management Group LLC grew its position in RBC Bearings by 2.1% in the third quarter. Stephens Investment Management Group LLC now owns 207,042 shares of the industrial products company’s stock valued at $25,911,000 after acquiring an additional 4,230 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new position in RBC Bearings in the third quarter valued at about $1,637,000. Hedge funds and other institutional investors own 97.89% of the company’s stock.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings results on Friday, November 3rd. The industrial products company reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.02). RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. The firm had revenue of $164.30 million for the quarter, compared to analyst estimates of $164.56 million. During the same period in the previous year, the business posted $0.78 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. sell-side analysts anticipate that RBC Bearings Incorporated will post 3.63 EPS for the current fiscal year.
A number of research analysts have issued reports on ROLL shares. Bank of America lifted their target price on RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a research note on Tuesday, September 26th. Drexel Hamilton assumed coverage on RBC Bearings in a research note on Thursday, December 21st. They set a “buy” rating and a $140.00 price target on the stock. BidaskClub lowered RBC Bearings from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Finally, ValuEngine lowered RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. RBC Bearings currently has an average rating of “Hold” and a consensus price target of $139.50.
In related news, VP Thomas C. Crainer sold 15,000 shares of RBC Bearings stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $120.76, for a total value of $1,811,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael J. Hartnett sold 1,687 shares of RBC Bearings stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $128.28, for a total value of $216,408.36. The disclosure for this sale can be found here. Insiders have sold 36,487 shares of company stock worth $4,504,657 over the last three months. 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.
