RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC lowered its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,840 shares of the industrial products company’s stock after selling 52 shares during the quarter. Apollon Wealth Management LLC’s holdings in RBC Bearings were worth $551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake 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 valued at $738,433,000 after purchasing an additional 19,574 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in RBC Bearings by 1.0% in 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 acquiring an additional 20,491 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in RBC Bearings by 1.2% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,941,467 shares of the industrial products company’s stock worth $523,769,000 after acquiring an additional 22,470 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in RBC Bearings by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company’s stock worth $221,793,000 after acquiring an additional 12,375 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in RBC Bearings by 22.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company’s stock valued at $93,626,000 after purchasing an additional 64,217 shares during the last quarter.

RBC Bearings Trading Up 0.0 %

Shares of NYSE:RBC opened at $313.48 on Friday. The business has a 50-day moving average price of $293.66 and a 200-day moving average price of $285.92. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 45.76, a PEG ratio of 3.61 and a beta of 1.51. RBC Bearings Incorporated has a 52-week low of $238.21 and a 52-week high of $328.39. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38.

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

Insider Activity at RBC Bearings

In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the completion of 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 filing with the SEC, which is accessible through this link. Also, CEO Michael J. Hartnett sold 503 shares of the company’s stock in a transaction dated 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 in the company, valued at $93,227,932. The trade was a 0.16 % 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 three months. Company insiders own 2.60% of the company’s stock.

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.