RBC Bearings Incorporated (ROLL) Holdings Increased by Suntrust Banks Inc.
Resource from: https://ledgergazette.com/2018/03/06/suntrust-banks-inc-increases-position-in-rbc-bearings-incorporated-roll.html Likes:199
Mar 07,2018
Suntrust Banks Inc. grew its holdings in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,963 shares of the industrial products company’s stock after purchasing an additional 787 shares during the quarter. Suntrust Banks Inc. owned about 0.11% of RBC Bearings worth $3,407,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of ROLL. Wasatch Advisors Inc. lifted its holdings in shares of RBC Bearings by 20.4% in the fourth quarter. Wasatch Advisors Inc. now owns 1,198,672 shares of the industrial products company’s stock worth $151,512,000 after buying an additional 203,366 shares in the last quarter. BlackRock Inc. raised its stake in RBC Bearings by 3.8% in the fourth quarter. BlackRock Inc. now owns 2,066,687 shares of the industrial products company’s stock valued at $261,229,000 after purchasing an additional 76,161 shares in the last quarter. Port Capital LLC purchased a new stake in RBC Bearings in the fourth quarter valued at approximately $9,544,000. Bradley Foster & Sargent Inc. CT raised its stake in RBC Bearings by 48.5% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 183,242 shares of the industrial products company’s stock valued at $22,933,000 after purchasing an additional 59,857 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in RBC Bearings by 1.3% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,287,621 shares of the industrial products company’s stock valued at $286,296,000 after purchasing an additional 29,134 shares in the last quarter. Hedge funds and other institutional investors own 99.08% of the company’s stock.
In other news, CEO Michael J. Hartnett sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $128.79, for a total transaction of $450,765.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Hartnett sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $128.00, for a total value of $64,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,087 shares of company stock valued at $3,842,703. 3.70% of the stock is currently owned by corporate insiders.
ROLL has been the topic of several research reports. Bank of America lifted their price target 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 report on Thursday, December 21st. They issued a “buy” rating and a $140.00 target price on the stock. Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $144.00 target price on the stock in a report on Tuesday, January 23rd. BidaskClub cut shares of RBC Bearings from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. Finally, ValuEngine cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $141.00.
RBC Bearings Incorporated (NASDAQ ROLL) opened at $119.63 on Tuesday. RBC Bearings Incorporated has a 52-week low of $88.70 and a 52-week 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. The firm has a market capitalization of $2,886.32, a PE ratio of 32.20, a price-to-earnings-growth ratio of 5.18 and a beta of 1.29.
RBC Bearings (NASDAQ:ROLL) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share 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 analyst estimates of $163.46 million. RBC Bearings had a return on equity of 11.79% and a net margin of 12.52%. RBC Bearings’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 EPS. equities analysts forecast that RBC Bearings Incorporated will post 3.91 earnings per share for the current year.
(https://ledgergazette.com/2018/03/06/suntrust-banks-inc-increases-position-in-rbc-bearings-incorporated-roll.html)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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