Covestor Ltd Has $69,000 Stake in RBC Bearings Incorporated (NYSE:RBC)

Covestor Ltd trimmed its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 15.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 232 shares of the industrial products company’s stock after selling 42 shares during the quarter. Covestor Ltd’s holdings in RBC Bearings were worth $69,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Atria Investments Inc boosted its holdings in RBC Bearings by 1.8% in the third quarter. Atria Investments Inc now owns 7,277 shares of the industrial products company’s stock worth $2,179,000 after purchasing an additional 127 shares in the last quarter. Crestwood Advisors Group LLC acquired a new position in RBC Bearings during the third quarter valued at approximately $215,000. Angeles Wealth Management LLC acquired a new position in RBC Bearings during the third quarter valued at approximately $363,000. Conestoga Capital Advisors LLC grew its holdings in RBC Bearings by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company’s stock valued at $221,793,000 after purchasing an additional 12,375 shares during the last quarter. Finally, US Bancorp DE grew its holdings in RBC Bearings by 17.4% during the third quarter. US Bancorp DE now owns 6,854 shares of the industrial products company’s stock valued at $2,052,000 after purchasing an additional 1,016 shares during the last quarter.

RBC Bearings Trading Down 0.7 %

Shares of RBC stock opened at $313.33 on Friday. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $293.05 and its two-hundred day moving average is $285.17. The company has a market cap of $9.84 billion, a PE ratio of 45.74, a price-to-earnings-growth ratio of 3.61 and a beta of 1.51. RBC Bearings Incorporated has a 12 month low of $238.21 and a 12 month high of $328.39.

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). The business had revenue of $397.90 million during the quarter, compared to the consensus estimate of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 earnings per share. Equities analysts predict that RBC Bearings Incorporated will post 8.94 EPS for the current year.

Insider Transactions at RBC Bearings

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 stock was sold at an average price of $292.67, for a total value of $1,229,214.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Hartnett sold 503 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the sale, the chief executive officer now owns 322,588 shares of the company’s stock, valued at $93,227,932. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,327 shares of company stock worth $11,068,921. Company insiders own 2.60% of the company’s stock.

About RBC Bearings

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.