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

Aigen Investment Management LP purchased a new position in shares of RBC Bearings Incorporated (NYSE:RBC) in the third quarter, Holdings Channel.com reports. The fund purchased 1,728 shares of the industrial products company’s stock, valued at approximately $517,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Advisors LLC boosted its position in RBC Bearings by 1.4% in the second quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company’s stock valued at $1,223,000 after buying an additional 61 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 75 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of RBC Bearings by 23.2% in the 3rd quarter. GAMMA Investing LLC now owns 440 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 83 shares during the last quarter. RiverPark Advisors LLC boosted its holdings in shares of RBC Bearings by 9.6% during the 2nd quarter. RiverPark Advisors LLC now owns 993 shares of the industrial products company’s stock valued at $268,000 after acquiring an additional 87 shares in the last quarter. Finally, Atria Investments Inc grew its position in RBC Bearings by 1.8% during the 3rd quarter. Atria Investments Inc now owns 7,277 shares of the industrial products company’s stock worth $2,179,000 after acquiring an additional 127 shares during the last quarter.

RBC Bearings Price Performance

Shares of RBC opened at $313.33 on Friday. The business has a 50-day simple moving average of $293.05 and a two-hundred day simple moving average of $285.17. RBC Bearings Incorporated has a 12-month low of $238.21 and a 12-month high of $328.39. The stock has a market cap of $9.84 billion, a PE ratio of 45.74, a PEG ratio of 3.61 and a beta of 1.51. 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 released 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). RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The firm had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same period in the prior year, the company earned $2.07 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Analysts anticipate that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Insider Activity

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 shares were 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Hartnett sold 503 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total transaction of $145,367.00. Following the completion of the sale, the chief executive officer now directly owns 322,588 shares in the company, valued at approximately $93,227,932. This represents a 0.16 % decrease in their ownership of the stock. 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. 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.