Trading Report: Today, RBC Bearings Inc. (ROLL) Stake Maintained by Gofen & Glossberg LLC IL

Today, RBC Bearings Inc. (ROLL) Stake Maintained by Gofen & Glossberg LLC IL

Gofen & Glossberg LLC IL continued to hold its position in RBC Bearings Inc. (NASDAQ:ROLL) during the third quarter, Holdings Channel reports. The institutional investor owned 5,365 shares of the company’s stock at the end of the third quarter. Gofen & Glossberg LLC IL’s holdings in RBC Bearings were worth $410,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in RBC Bearings by 98.2% in the third quarter. BNP Paribas Arbitrage SA now owns 2,059 shares of the company’s stock valued at $157,000 after buying an additional 1,020 shares during the last quarter. Royal Bank of Canada increased its position in RBC Bearings by 2.2% in the second quarter. Royal Bank of Canada now owns 315,464 shares of the company’s stock valued at $22,871,000 after buying an additional 6,787 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in RBC Bearings by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 101,189 shares of the company’s stock valued at $7,337,000 after buying an additional 4,316 shares during the last quarter. Stifel Financial Corp increased its position in RBC Bearings by 7.7% in the second quarter. Stifel Financial Corp now owns 35,407 shares of the company’s stock valued at $2,568,000 after buying an additional 2,519 shares during the last quarter. Finally, Fiera Capital Corp increased its position in RBC Bearings by 3.2% in the second quarter. Fiera Capital Corp now owns 22,400 shares of the company’s stock valued at $1,624,000 after buying an additional 700 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

RBC Bearings Inc. (NASDAQ:ROLL) traded down 0.29% during mid-day trading on Friday, reaching $85.58. 47,013 shares of the company were exchanged. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 27.97 and a beta of 1.10. The company’s 50 day moving average price is $74.93 and its 200-day moving average price is $75.23. RBC Bearings Inc. has a 12-month low of $54.38 and a 12-month high of $87.82.

RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. RBC Bearings had a net margin of 11.75% and a return on equity of 11.71%. The company earned $153.90 million during the quarter, compared to the consensus estimate of $153.26 million. During the same quarter last year, the firm posted $0.76 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that RBC Bearings Inc. will post $3.21 earnings per share for the current fiscal year.

Several research firms have recently issued reports on ROLL. Zacks Investment Research downgraded shares of RBC Bearings from a “hold” rating to a “sell” rating in a report on Monday, October 17th. Seaport Global Securities cut shares of RBC Bearings from an “accumulate” rating to a “neutral” rating and set a $73.00 target price on the stock. in a research note on Friday, October 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $75.60.

In other news, insider Michael J. Hartnett sold 6,483 shares of the firm’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $80.31, for a total transaction of $520,649.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Thomas J. Williams sold 8,460 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $71.43, for a total transaction of $604,297.80. The disclosure for this sale can be found here. 4.40% of the stock is currently 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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