RBC Bearings Incorporated (ROLL) Shares Sold by Gofen & Glossberg LLC IL

Gofen & Glossberg LLC IL lowered its position in RBC Bearings Incorporated (NASDAQ:ROLL) by 26.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,965 shares of the industrial products company’s stock after selling 1,400 shares during the period. Gofen & Glossberg LLC IL’s holdings in RBC Bearings were worth $501,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of RBC Bearings by 1.3% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,287,621 shares of the industrial products company’s stock valued at $286,296,000 after buying an additional 29,134 shares in the last quarter. BlackRock Inc. increased its position in shares of RBC Bearings by 2.8% in the second quarter. BlackRock Inc. now owns 1,844,217 shares of the industrial products company’s stock valued at $187,666,000 after buying an additional 49,694 shares in the last quarter. Vanguard Group Inc. increased its position in shares of RBC Bearings by 0.7% in the second quarter. Vanguard Group Inc. now owns 1,817,613 shares of the industrial products company’s stock valued at $184,960,000 after buying an additional 12,863 shares in the last quarter. Wasatch Advisors Inc. increased its position in shares of 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 buying an additional 136,604 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of RBC Bearings by 2.2% in the third quarter. Wells Fargo & Company MN now owns 629,102 shares of the industrial products company’s stock valued at $78,732,000 after buying an additional 13,670 shares in the last quarter. Institutional investors and hedge funds own 97.89% of the company’s stock.

Shares of RBC Bearings Incorporated (ROLL) opened at $128.28 on Thursday. The company has a market capitalization of $3,119.14, a PE ratio of 43.48, a P/E/G ratio of 5.96 and a beta of 1.35. RBC Bearings Incorporated has a 52-week low of $87.61 and a 52-week high of $139.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 4.68.

RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings data on Friday, November 3rd. The industrial products company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). The company had revenue of $164.30 million for the quarter, compared to analysts’ expectations of $164.56 million. RBC Bearings had a return on equity of 11.10% and a net margin of 11.18%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 EPS. analysts expect that RBC Bearings Incorporated will post 3.68 earnings per share for the current year.

A number of research firms recently commented on ROLL. CL King began coverage on RBC Bearings in a research report on Wednesday, November 29th. They set a “buy” rating and a $142.00 price objective for the company. Bank of America lifted their price objective on RBC Bearings from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Zacks Investment Research upgraded RBC Bearings from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a research report on Tuesday, September 26th. BidaskClub cut RBC Bearings from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 6th. Finally, Drexel Hamilton began coverage on RBC Bearings in a research report on Thursday, December 21st. They set a “buy” rating and a $140.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $140.75.

In related news, VP Thomas C. Crainer sold 15,000 shares of RBC Bearings stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $120.76, for a total transaction of $1,811,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Hartnett sold 3,500 shares of RBC Bearings stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $128.79, for a total value of $450,765.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,487 shares of company stock valued at $4,632,657. 3.70% of the stock is currently owned by company insiders.

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

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