RBC Bearings (NASDAQ:ROLL) Reaches New 1-Year High at $270.35

RBC Bearings Incorporated (NASDAQ:ROLL - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $270.35 and last traded at $269.54, with a volume of 98152 shares trading hands. The stock had previously closed at $266.03.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of RBC Bearings in a research note on Monday, April 1st. They issued a "hold" rating for the company.

RBC Bearings Price Performance

The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 130.84 and a beta of 1.34. The stock's 50 day simple moving average is $266.95 and its 200-day simple moving average is $256.15.

Hedge Funds Weigh In On RBC Bearings

Institutional investors have recently modified their holdings of the company. Compass Wealth Management LLC bought a new position in shares of RBC Bearings in the fourth quarter valued at approximately $31,000. Northwestern Mutual Wealth Management Co. raised its position in shares of RBC Bearings by 70.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 205 shares of the company's stock valued at $43,000 after purchasing an additional 85 shares during the period. Lazard Asset Management LLC raised its position in shares of RBC Bearings by 34.4% in the fourth quarter. Lazard Asset Management LLC now owns 410 shares of the company's stock valued at $85,000 after purchasing an additional 105 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of RBC Bearings by 72.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 626 shares of the company's stock valued at $131,000 after purchasing an additional 262 shares during the period. Finally, Point72 Middle East FZE bought a new position in shares of RBC Bearings in the fourth quarter valued at approximately $189,000.

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.