RBC Bearings (NASDAQ:ROLL) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of RBC Bearings (NASDAQ:ROLLFree Report) in a research note published on Sunday morning. The firm issued a hold rating on the stock.

RBC Bearings Stock Up 1.2 %

Shares of NASDAQ:ROLL opened at $275.02 on Friday. The firm has a market cap of $7.96 billion, a P/E ratio of 133.50 and a beta of 1.34. RBC Bearings has a 12 month low of $152.90 and a 12 month high of $264.94. The company’s 50-day moving average price is $267.87 and its two-hundred day moving average price is $242.57.

Hedge Funds Weigh In On RBC Bearings

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROLL. Norges Bank bought a new stake in shares of RBC Bearings in the fourth quarter valued at about $41,855,000. Durable Capital Partners LP raised its stake in RBC Bearings by 9.0% in the fourth quarter. Durable Capital Partners LP now owns 1,855,997 shares of the company’s stock valued at $388,553,000 after purchasing an additional 153,744 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in RBC Bearings by 3.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,980,496 shares of the company’s stock valued at $623,967,000 after purchasing an additional 103,450 shares in the last quarter. Jane Street Group LLC raised its stake in RBC Bearings by 1,462.9% in the third quarter. Jane Street Group LLC now owns 32,820 shares of the company’s stock valued at $6,820,000 after purchasing an additional 30,720 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in RBC Bearings in the third quarter valued at about $2,992,000.

About RBC Bearings

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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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