Millennium Management LLC Buys Shares of 18,526 RBC Bearings Incorporated (ROLL)

Millennium Management LLC bought a new stake in shares of RBC Bearings Incorporated (NASDAQ:ROLL) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 18,526 shares of the industrial products company’s stock, valued at approximately $2,342,000.

A number of other large investors have also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in RBC Bearings by 3.8% during the fourth quarter. BlackRock Inc. now owns 2,066,687 shares of the industrial products company’s stock valued at $261,229,000 after acquiring an additional 76,161 shares during the last quarter. Wasatch Advisors Inc. lifted its position in RBC Bearings by 20.4% during the fourth quarter. Wasatch Advisors Inc. now owns 1,198,672 shares of the industrial products company’s stock valued at $151,512,000 after acquiring an additional 203,366 shares during the last quarter. Wells Fargo & Company MN lifted its position in RBC Bearings by 3.0% during the fourth quarter. Wells Fargo & Company MN now owns 647,973 shares of the industrial products company’s stock valued at $81,904,000 after acquiring an additional 18,871 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in RBC Bearings by 22.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 352,148 shares of the industrial products company’s stock valued at $44,511,000 after acquiring an additional 64,511 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its position in RBC Bearings by 3.6% during the fourth quarter. OppenheimerFunds Inc. now owns 321,686 shares of the industrial products company’s stock valued at $40,661,000 after acquiring an additional 11,275 shares during the last quarter. 99.46% of the stock is owned by institutional investors.

A number of research firms recently commented on ROLL. BidaskClub raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. Zacks Investment Research cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $141.00.

In other RBC Bearings news, insider Thomas C. Crainer sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $124.92, for a total value of $624,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Hartnett sold 3,300 shares of the firm’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $128.00, for a total transaction of $422,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,989 shares of company stock valued at $11,736,880. Corporate insiders own 3.70% of the company’s stock.

NASDAQ ROLL opened at $119.28 on Friday. The firm has a market capitalization of $2,942.43, a price-to-earnings ratio of 37.63, a P/E/G ratio of 4.41 and a beta of 1.26. RBC Bearings Incorporated has a 12-month low of $94.97 and a 12-month high of $139.95. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.65 and a quick ratio of 1.65.

RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.19. The business had revenue of $166.86 million during the quarter, compared to analysts’ expectations of $163.46 million. RBC Bearings had a net margin of 12.52% and a return on equity of 11.79%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $0.73 earnings per share. equities analysts anticipate that RBC Bearings Incorporated will post 3.91 earnings per share for the current year.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates in four segments: Plain Bearings, Roller Bearings, Ball Bearings, and Engineered Products. The Plain Bearings segment produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings that are primarily used to rectify misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or in heavy mining and construction equipment.

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

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