Haha, had it been a cement mixer ring bearing, then there would have been another explanation for the reports that it fell red hot from the sky — that they were as fanciful as the reports of mysterious drones infesting New Jersey (which seem to have actually been real planes). For instance, a broken cement mixer part got dumped there and somebody made up a colorful story.

But maybe it really is Space Junk! https://www.youtube.com/watch?v=Z2dcVIEQwEE ("and now my Sally's dead...")

Proper scientific inquiry demands both an open mind and skepticism. That's why I didn't claim "it's definitely a cement mixer ring bearing" with the usual certainty of people arguing on the internet, but attempted to convey the unreliability of my source.