Geode Capital Management LLC Has $109.51 Million Stock Position in RBC Bearings Incorporated (NASDAQ:ROLL)

May 12, 2023

Geode Capital Management LLC lifted its stake in RBC Bearings Incorporated (NASDAQ:ROLL - Get Rating) by 3.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 523,107 shares of the company's stock after purchasing an additional 18,543 shares during the quarter. Geode Capital Management LLC owned 1.81% of RBC Bearings worth $109,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ROLL. New York State Common Retirement Fund boosted its position in shares of RBC Bearings by 13.0% in the 3rd quarter. New York State Common Retirement Fund now owns 50,248 shares of the company's stock valued at $10,442,000 after purchasing an additional 5,798 shares during the period. IFP Advisors Inc boosted its position in shares of RBC Bearings by 40.4% in the 3rd quarter. IFP Advisors Inc now owns 313 shares of the company's stock valued at $40,000 after purchasing an additional 90 shares during the period. California Public Employees Retirement System boosted its position in RBC Bearings by 11.1% during the 3rd quarter. California Public Employees Retirement System now owns 61,812 shares of the company's stock worth $12,845,000 after acquiring an additional 6,170 shares during the period. Legacy Advisors LLC boosted its position in RBC Bearings by 32.3% during the 3rd quarter. Legacy Advisors LLC now owns 2,378 shares of the company's stock worth $494,000 after acquiring an additional 581 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in RBC Bearings by 1.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 34,803 shares of the company's stock worth $7,232,000 after acquiring an additional 578 shares during the period.

Shares of NASDAQ ROLL opened at $218.02 on Thursday. RBC Bearings Incorporated has a one year low of $152.90 and a one year high of $264.94. The firm has a market capitalization of $6.31 billion, a PE ratio of 105.83 and a beta of 1.34. The business has a 50-day moving average price of $218.72 and a two-hundred day moving average price of $224.55.

Separately, StockNews.com started coverage on RBC Bearings in a research report on Friday, June 2nd. They set a "hold" rating for the company.

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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