Davis R M Inc. boosted its stake in RBC Bearings Incorporated (NASDAQ:ROLL) by 16.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,598 shares of the industrial products company’s stock after purchasing an additional 11,720 shares during the quarter. Davis R M Inc.’s holdings in RBC Bearings were worth $10,768,000 as of its most recent SEC filing.



A number of other hedge funds also recently made changes to their positions in the business. Amalgamated Bank lifted its stake in RBC Bearings by 15.4% in the 2nd quarter. Amalgamated Bank now owns 3,607 shares of the industrial products company’s stock worth $465,000 after purchasing an additional 481 shares in the last quarter. Atria Investments LLC lifted its stake in RBC Bearings by 15.4% in the 2nd quarter. Atria Investments LLC now owns 4,602 shares of the industrial products company’s stock worth $593,000 after purchasing an additional 613 shares in the last quarter. Confluence Investment Management LLC lifted its stake in RBC Bearings by 2.0% in the 2nd quarter. Confluence Investment Management LLC now owns 25,901 shares of the industrial products company’s stock worth $3,336,000 after purchasing an additional 514 shares in the last quarter. Port Capital LLC lifted its stake in RBC Bearings by 8.7% in the 2nd quarter. Port Capital LLC now owns 136,914 shares of the industrial products company’s stock worth $17,636,000 after purchasing an additional 10,955 shares in the last quarter. Finally, Suntrust Banks Inc. lifted its stake in RBC Bearings by 4.3% in the 1st quarter. Suntrust Banks Inc. now owns 28,121 shares of the industrial products company’s stock worth $3,492,000 after purchasing an additional 1,158 shares in the last quarter. Institutional investors and hedge funds own 97.33% of the company’s stock.



In other news, CEO Michael J. Hartnett sold 5,400 shares of the business’s stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $134.90, for a total value of $728,460.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael J. Hartnett sold 105,202 shares of the business’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $128.34, for a total transaction of $13,501,624.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 228,736 shares of company stock worth $29,640,452. Insiders own 3.70% of the company’s stock.

 

Shares of RBC Bearings traded up $1.22, reaching $138.55, during trading hours on Thursday, Marketbeat.com reports. The company’s stock had a trading volume of 1,865 shares, compared to its average volume of 82,290. RBC Bearings Incorporated has a one year low of $101.08 and a one year high of $139.95. The company has a quick ratio of 1.69, a current ratio of 4.60 and a debt-to-equity ratio of 0.18. The company has a market cap of $3.29 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 4.95 and a beta of 1.34.



RBC Bearings (NASDAQ:ROLL) last posted its earnings results on Wednesday, May 30th. The industrial products company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.05). RBC Bearings had a return on equity of 11.96% and a net margin of 12.91%. The business had revenue of $179.90 million during the quarter, compared to the consensus estimate of $175.57 million. During the same quarter last year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was up 12.3% on a year-over-year basis. sell-side analysts expect that RBC Bearings Incorporated will post 4.65 earnings per share for the current fiscal year.



Several analysts have commented on ROLL shares. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research note on Thursday, May 31st. BidaskClub cut shares of RBC Bearings from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, SunTrust Banks started coverage on shares of RBC Bearings in a research note on Wednesday, June 20th. They issued a “hold” rating and a $133.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $139.40.