Apr 22, 2024 Initiates Coverage on RBC Bearings (NASDAQ:ROLL) started coverage on shares of RBC Bearings (NASDAQ:ROLL - Get Free Report) in a research report issued to clients and investors on Tuesday. The brokerage set a "hold" rating on the stock.

Shares of NASDAQ:ROLL opened at $220.96 on Tuesday. RBC Bearings has a 1 year low of $152.90 and a 1 year high of $264.94. The company has a market cap of $6.39 billion, a P/E ratio of 107.26 and a beta of 1.34. The stock's fifty day moving average price is $219.73 and its 200-day moving average price is $221.35.

A number of large investors have recently made changes to their positions in ROLL. UBS Group AG boosted its holdings in RBC Bearings by 30.3% in the third quarter. UBS Group AG now owns 6,411 shares of the company's stock worth $1,332,000 after purchasing an additional 1,491 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of RBC Bearings during the 3rd quarter valued at $2,992,000. Commonwealth Equity Services LLC boosted its stake in shares of RBC Bearings by 11.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,202 shares of the company's stock worth $249,000 after buying an additional 119 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of RBC Bearings by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 129,493 shares of the company's stock worth $26,910,000 after acquiring an additional 7,848 shares during the period. Finally, Pathstone Family Office LLC purchased a new stake in RBC Bearings during the third quarter valued at $301,000.

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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