Oppenheimer Asset Management Inc. Has $5.02 Million Stake in RBC Bearings Incorporated (NYSE:RBC)

Oppenheimer Asset Management Inc. lowered its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 16.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,768 shares of the industrial products company’s stock after selling 3,308 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.06% of RBC Bearings worth $5,020,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RBC. Geneva Capital Management LLC raised its holdings in RBC Bearings by 1.4% during the 3rd quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock worth $176,829,000 after buying an additional 8,012 shares during the period. Aigen Investment Management LP acquired a new stake in shares of RBC Bearings during the third quarter worth $517,000. Versor Investments LP bought a new stake in RBC Bearings in the 3rd quarter valued at $435,000. Crossmark Global Holdings Inc. boosted its stake in RBC Bearings by 29.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,280 shares of the industrial products company’s stock worth $683,000 after purchasing an additional 523 shares during the period. Finally, TimesSquare Capital Management LLC increased its holdings in RBC Bearings by 17.3% during the 3rd 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 in the last quarter.

RBC Bearings Stock Performance

RBC opened at $313.33 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. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 45.74, a P/E/G ratio of 3.61 and a beta of 1.51. The business’s 50-day moving average price is $293.05 and its two-hundred day moving average price is $285.17. RBC Bearings Incorporated has a 1 year low of $238.21 and a 1 year high of $328.39.

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

Insider Activity at RBC Bearings

In related news, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction that occurred on 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 directly owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. This represents a 25.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 11,341 shares of the business’s stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,327 shares of company stock valued at $11,068,921. Corporate 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.