RBC Bearings (NASDAQ:ROLL) Stock Crosses Above 50 Day Moving Average – What’s Next?

RBC Bearings Incorporated (NASDAQ:ROLL)’s share price passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $493.10 and traded as high as $499.93. RBC Bearings shares last traded at $494.56, with a volume of 211,098 shares changing hands.

RBC Bearings Price Performance

The firm has a market cap of $14.31 billion, a P/E ratio of 240.08 and a beta of 1.34. The firm’s 50-day moving average price is $493.10 and its 200 day moving average price is $550.43.

Hedge Funds Weigh In On RBC Bearings

Several large investors have recently added to or reduced their stakes in ROLL. Public Employees Retirement System of Ohio bought a new stake in shares of RBC Bearings during the 2nd quarter valued at about $12,475,000. Capstone Investment Advisors LLC bought a new position in RBC Bearings in the second quarter worth about $660,000. Deutsche Bank AG bought a new position in RBC Bearings in the second quarter worth about $48,927,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in RBC Bearings in the second quarter worth about $19,883,000. Finally, Empowered Funds LLC acquired a new position in RBC Bearings in the second quarter valued at approximately $1,356,000.

About RBC Bearings

RBC Bearings designs and manufactures highly engineered precision bearings and motion-control components. Its products include plain, roller and ball bearings, as well as specialty components such as rod ends, spherical bearings and gearing used in demanding operating environments. The company serves aerospace and defense customers, along with a range of industrial markets, including construction, energy, transportation, mining and agriculture. Its products are used in applications where reliability, precision and durability are important.