Principal Financial Group Inc. Increases Stake in RBC Bearings Incorporated (NASDAQ:ROLL)

Principal Financial Group Inc. raised its stake in shares of RBC Bearings Incorporated (NASDAQ:ROLL – Get Rating) by 1,195.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,663 shares of the company’s stock after buying an additional 54,133 shares during the quarter. Principal Financial Group Inc. owned about 0.20% of RBC Bearings worth $12,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ROLL. Price T Rowe Associates Inc. MD boosted its position in shares of RBC Bearings by 11.5% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 2,877,046 shares of the company’s stock valued at $597,880,000 after acquiring an additional 296,178 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC bought a new position in shares of RBC Bearings during the 3rd quarter valued at approximately $7,657,000. Jane Street Group LLC boosted its position in shares of RBC Bearings by 1,462.9% during the 3rd quarter. Jane Street Group LLC now owns 32,820 shares of the company’s stock valued at $6,820,000 after acquiring an additional 30,720 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID boosted its position in shares of RBC Bearings by 71.4% during the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 65,513 shares of the company’s stock valued at $13,715,000 after acquiring an additional 27,293 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its position in shares of RBC Bearings by 1,587.9% during the 4th quarter. Moody Aldrich Partners LLC now owns 22,820 shares of the company’s stock valued at $4,777,000 after acquiring an additional 21,468 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on RBC Bearings in a research report on Thursday. They set a “hold” rating for the company.

RBC Bearings Stock Down 3.2 %

Shares of ROLL opened at $204.93 on Friday. The company has a market cap of $5.93 billion, a PE ratio of 99.48 and a beta of 1.34. The business has a fifty day moving average of $221.49 and a 200 day moving average of $226.89. RBC Bearings Incorporated has a 52-week low of $152.90 and a 52-week high of $264.94.

RBC Bearings Company Profile

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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.