RBC Bearings Incorporated (NYSE:RBC) Shares Acquired by RiverPark Advisors LLC

RiverPark Advisors LLC lifted its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 48.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,476 shares of the industrial products company’s stock after acquiring an additional 483 shares during the quarter. RiverPark Advisors LLC’s holdings in RBC Bearings were worth $442,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. boosted its holdings in RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after buying an additional 75 shares in the last quarter. DT Investment Partners LLC bought a new stake in RBC Bearings during the second quarter worth approximately $35,000. Opal Wealth Advisors LLC bought a new stake in RBC Bearings during the second quarter worth approximately $41,000. Canada Pension Plan Investment Board bought a new stake in RBC Bearings during the second quarter worth approximately $54,000. Finally, Strategic Financial Concepts LLC bought a new stake in RBC Bearings during the second quarter worth approximately $68,000.

Insiders Place Their Bets

In other news, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the transaction, the vice president now owns 12,539 shares in the company, valued at approximately $3,669,789.13. This trade represents a 25.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Hartnett sold 503 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total transaction of $145,367.00. Following the transaction, the chief executive officer now owns 322,588 shares in the company, valued at $93,227,932. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,327 shares of company stock worth $11,068,921 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

RBC Bearings Trading Up 0.0 %

Shares of NYSE:RBC opened at $313.48 on Friday. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of 45.76, a PEG ratio of 3.59 and a beta of 1.51. RBC Bearings Incorporated has a 1-year low of $238.21 and a 1-year high of $328.39. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. The company has a 50 day moving average price of $293.66 and a 200 day moving average price of $285.92.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The firm had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same period in the prior year, the business posted $2.07 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, research analysts anticipate that RBC Bearings Incorporated will post 8.94 EPS for the current fiscal year.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems 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.