Royce & Associates LP Acquires 991 Shares of RBC Bearings Incorporated (NYSE:RBC)

Royce & Associates LP increased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 154,104 shares of the industrial products company’s stock after purchasing an additional 991 shares during the quarter. Royce & Associates LP owned 0.49% of RBC Bearings worth $46,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of RBC. UMB Bank n.a. raised its stake in shares of RBC Bearings by 416.7% in 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 during the period. DT Investment Partners LLC bought a new stake in RBC Bearings during the 2nd quarter valued at $35,000. Opal Wealth Advisors LLC bought a new stake in RBC Bearings during the 2nd quarter valued at $41,000. Canada Pension Plan Investment Board purchased a new position in shares of RBC Bearings in the 2nd quarter valued at $54,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of RBC Bearings in the 2nd quarter valued at $68,000.

Insider Activity

In other RBC Bearings news, CEO Michael J. Hartnett sold 11,341 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $287.52, for a total value of $3,260,764.32. Following the sale, the chief executive officer now directly owns 320,053 shares in the company, valued at $92,021,638.56. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total value of $1,229,214.00. Following the transaction, the vice president now directly owns 12,539 shares in the company, valued at approximately $3,669,789.13. The trade was a 25.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,327 shares of company stock worth $11,068,921 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

RBC Bearings Stock Down 0.7 %

Shares of RBC stock opened at $313.33 on Friday. RBC Bearings Incorporated has a 1-year low of $238.21 and a 1-year high of $328.39. The stock’s fifty day moving average price is $293.05 and its 200 day moving average price is $285.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 45.74, a price-to-earnings-growth ratio of 3.61 and a beta of 1.51.

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