RBC Bearings (NASDAQ:ROLL) Now Covered by Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of RBC Bearings (NASDAQ:ROLL) in a report released on Wednesday. The firm set a “hold” rating on the stock.

RBC Bearings Trading Down 1.5 %

ROLL stock opened at $242.79 on Wednesday. The stock has a market capitalization of $7.02 billion, a PE ratio of 117.86 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 stock’s 50 day simple moving average is $264.69 and its 200 day simple moving average is $257.20.

Hedge Funds Weigh In On RBC Bearings

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of RBC Bearings during the 4th quarter valued at $41,855,000. Durable Capital Partners LP raised its holdings in RBC Bearings by 9.0% in the 4th quarter. Durable Capital Partners LP now owns 1,855,997 shares of the company’s stock worth $388,553,000 after purchasing an additional 153,744 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in RBC Bearings by 3.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,980,496 shares of the company’s stock worth $623,967,000 after purchasing an additional 103,450 shares during the period. Jane Street Group LLC raised its holdings in RBC Bearings by 1,462.9% in the 3rd quarter. Jane Street Group LLC now owns 32,820 shares of the company’s stock worth $6,820,000 after purchasing an additional 30,720 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in RBC Bearings in the 3rd quarter worth $2,992,000.

About RBC Bearings

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.