RBC Bearings Incorporated (ROLL) Shares Bought by M&T Bank Corp

M&T Bank Corp increased its stake in RBC Bearings Incorporated (NASDAQ:ROLL) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,431 shares of the industrial products company’s stock after purchasing an additional 521 shares during the period. M&T Bank Corp owned approximately 0.06% of RBC Bearings worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UBS Asset Management Americas Inc. boosted its stake in shares of RBC Bearings by 33.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 12,930 shares of the industrial products company’s stock worth $1,316,000 after buying an additional 3,243 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of RBC Bearings by 5.8% during the 2nd quarter. Voya Investment Management LLC now owns 11,147 shares of the industrial products company’s stock worth $1,134,000 after buying an additional 616 shares during the last quarter. State Street Corp boosted its stake in shares of RBC Bearings by 6.7% during the 2nd quarter. State Street Corp now owns 449,710 shares of the industrial products company’s stock worth $45,764,000 after buying an additional 28,142 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of RBC Bearings by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,650 shares of the industrial products company’s stock worth $1,796,000 after buying an additional 146 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of RBC Bearings by 26.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 20,494 shares of the industrial products company’s stock worth $2,085,000 after buying an additional 4,229 shares during the last quarter. 97.89% of the stock is owned by hedge funds and other institutional investors.

ROLL has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of RBC Bearings from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Drexel Hamilton initiated coverage on shares of RBC Bearings in a research note on Thursday, December 21st. They set a “buy” rating and a $140.00 price objective for the company. Zacks Investment Research downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. BidaskClub downgraded shares of RBC Bearings from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Finally, ValuEngine downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. RBC Bearings currently has an average rating of “Buy” and an average price target of $141.00.

Shares of RBC Bearings Incorporated (NASDAQ:ROLL) opened at $123.25 on Friday. The company has a quick ratio of 1.65, a current ratio of 4.65 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3,010.00, a PE ratio of 36.04, a PEG ratio of 5.34 and a beta of 1.28. RBC Bearings Incorporated has a fifty-two week low of $88.70 and a fifty-two week high of $139.95.

RBC Bearings (NASDAQ:ROLL) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.19. The company had revenue of $166.86 million for 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%. RBC Bearings’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 EPS. analysts predict that RBC Bearings Incorporated will post 3.91 earnings per share for the current year.

In other news, insider Michael J. Hartnett sold 500 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $128.00, for a total value of $64,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael J. Hartnett sold 6,300 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $128.68, for a total transaction of $810,684.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,387 shares of company stock worth $2,172,787. 3.70% of the stock is owned by insiders.

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RBC Bearings 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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