Aigen Investment Management LP Purchases Shares of 1,728 RBC Bearings Incorporated (NYSE:RBC)

Aigen Investment Management LP acquired a new position in shares of RBC Bearings Incorporated (NYSE:RBC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,728 shares of the industrial products company’s stock, valued at approximately $517,000.

Several other large investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in RBC Bearings by 1.0% during the first 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 buying an additional 20,491 shares during the last quarter. Vanguard Group Inc. raised its stake in RBC Bearings by 0.7% in 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 acquiring an additional 19,574 shares during the period. CWM LLC lifted its holdings in RBC Bearings by 41.3% during the 2nd quarter. CWM LLC now owns 10,436 shares of the industrial products company’s stock valued at $2,815,000 after purchasing an additional 3,051 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in RBC Bearings by 17.3% during the third quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after purchasing an additional 13,395 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of RBC Bearings in the second quarter valued at $2,380,000.

RBC Bearings Stock Performance

NYSE RBC opened at $313.33 on Friday. The stock has a market cap of $9.84 billion, a PE ratio of 45.74, a P/E/G ratio of 3.61 and a beta of 1.51. 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 firm has a 50-day moving average of $293.05 and a 200-day moving average of $285.17. RBC Bearings Incorporated has a 52-week low of $238.21 and a 52-week high of $328.39.

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

Insiders Place Their Bets

In other RBC Bearings news, CEO Michael J. Hartnett sold 503 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was 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 trade represents a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard J. Edwards sold 4,200 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $3,669,789.13. The trade was a 25.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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 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.