Congress Asset Management Co. MA acquired a new position in shares of RBC Bearings Incorporated (NASDAQ:ROLL) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 14,772 shares of the industrial products company’s stock, valued at approximately $1,434,000. Congress Asset Management Co. MA owned about 0.06% of RBC Bearings at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Aberdeen Asset Management PLC UK increased its stake in shares of RBC Bearings by 1.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 584,788 shares of the industrial products company’s stock worth $54,274,000 after buying an additional 11,147 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of RBC Bearings during the fourth quarter worth approximately $180,000. United Services Automobile Association increased its stake in shares of RBC Bearings by 4.1% in the third quarter. United Services Automobile Association now owns 37,714 shares of the industrial products company’s stock worth $2,884,000 after buying an additional 1,500 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of RBC Bearings by 2.8% in the third quarter. Hsbc Holdings PLC now owns 7,806 shares of the industrial products company’s stock worth $598,000 after buying an additional 210 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of RBC Bearings by 27.0% in the third quarter. Citadel Advisors LLC now owns 17,089 shares of the industrial products company’s stock worth $1,307,000 after buying an additional 3,634 shares in the last quarter.
Shares of RBC Bearings Incorporated (NASDAQ:ROLL) traded up 0.91% during midday trading on Friday, hitting $99.54. 98,265 shares of the company’s stock were exchanged. The stock has a market cap of $2.35 billion, a PE ratio of 34.57 and a beta of 1.17. The stock’s 50 day moving average is $97.71 and its 200-day moving average is $91.47. RBC Bearings Incorporated has a 1-year low of $67.99 and a 1-year high of $104.83.
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Separately, Zacks Investment Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 10th.
In other news, insider Michael J. Hartnett sold 23,472 shares of RBC Bearings stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $95.20, for a total transaction of $2,234,534.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 39,400 shares of company stock worth $3,734,508 in the last quarter. Insiders own 4.40% of the company’s stock.
RBC Bearings Company Profile
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision bearings and products, which are integral to the manufacture and operation of machines, aircraft and mechanical systems. The Company operates through four segments: Plain Bearings; Roller Bearings; Ball Bearings, and Engineered Products.
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