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

RiverPark Advisors LLC raised its holdings in RBC Bearings Incorporated (NYSE:RBC) by 48.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,476 shares of the industrial products company’s stock after acquiring an additional 483 shares during the period. RiverPark Advisors LLC’s holdings in RBC Bearings were worth $442,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in RBC Bearings by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,095,607 shares of the industrial products company’s stock worth $566,549,000 after purchasing an additional 20,491 shares during the period. Vanguard Group Inc. boosted its position in RBC Bearings by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock worth $738,433,000 after purchasing an additional 19,574 shares during the period. CWM LLC boosted its position in RBC Bearings by 41.3% during the 2nd quarter. CWM LLC now owns 10,436 shares of the industrial products company’s stock worth $2,815,000 after purchasing an additional 3,051 shares during the period. TimesSquare Capital Management LLC boosted its position in RBC Bearings by 17.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock valued at $27,125,000 after buying an additional 13,395 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in RBC Bearings in the 2nd quarter valued at about $2,380,000.

Insider Buying and Selling

In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total value of $1,229,214.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Hartnett sold 19,283 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $289.42, for a total transaction of $5,580,885.86. Following the completion of the sale, the chief executive officer now owns 317,814 shares in the company, valued at $91,981,727.88. The trade was a 5.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,327 shares of company stock worth $11,068,921 over the last quarter. 2.60% of the stock is owned by company insiders.

RBC Bearings Stock Performance

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

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

RBC Bearings 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.