RBC Bearings (NASDAQ:ROLL) Earns Hold Rating from Analysts at StockNews.com

May 26, 2023

Equities research analysts at StockNews.com assumed coverage on shares of RBC Bearings (NASDAQ:ROLL - Get Rating) in a research note issued to investors on Tuesday. The brokerage set a "hold" rating on the stock.

Shares of RBC Bearings stock opened at $226.25 on Tuesday. The firm has a 50-day simple moving average of $224.39 and a two-hundred day simple moving average of $228.82. The company has a market cap of $6.55 billion, a P/E ratio of 109.83 and a beta of 1.34. RBC Bearings has a fifty-two week low of $152.90 and a fifty-two week high of $264.94.

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. acquired a new position in shares of RBC Bearings in the 3rd quarter valued at $619,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of RBC Bearings by 27.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 716 shares of the company's stock worth $148,000 after acquiring an additional 153 shares during the last quarter. Strs Ohio boosted its position in shares of RBC Bearings by 16.7% during the 3rd quarter. Strs Ohio now owns 4,200 shares of the company's stock worth $872,000 after purchasing an additional 600 shares during the period. Van ECK Associates Corp increased its holdings in RBC Bearings by 10.0% in the 3rd quarter. Van ECK Associates Corp now owns 773 shares of the company's stock valued at $161,000 after purchasing an additional 70 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in RBC Bearings by 4.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 16,587 shares of the company's stock valued at $3,447,000 after purchasing an additional 696 shares during the period.

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.

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