Chesapeake Capital Corp IL Acquires 483 Shares of RBC Bearings Incorporated (NYSE:RBC)

Chesapeake Capital Corp IL increased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 29.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,148 shares of the industrial products company’s stock after purchasing an additional 483 shares during the quarter. Chesapeake Capital Corp IL’s holdings in RBC Bearings were worth $644,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RBC. Natixis Advisors LLC increased its position in shares of RBC Bearings by 0.3% during the third quarter. Natixis Advisors LLC now owns 105,444 shares of the industrial products company’s stock worth $31,568,000 after purchasing an additional 347 shares in the last quarter. Royce & Associates LP increased its position in shares of RBC Bearings by 0.6% during the third quarter. Royce & Associates LP now owns 154,104 shares of the industrial products company’s stock worth $46,136,000 after purchasing an additional 991 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in shares of RBC Bearings by 4.5% during the third quarter. OneDigital Investment Advisors LLC now owns 4,078 shares of the industrial products company’s stock worth $1,221,000 after purchasing an additional 174 shares in the last quarter. Curi RMB Capital LLC increased its position in shares of RBC Bearings by 2.6% during the third quarter. Curi RMB Capital LLC now owns 51,905 shares of the industrial products company’s stock worth $15,539,000 after purchasing an additional 1,309 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its position in shares of RBC Bearings by 19.9% during the third quarter. Zions Bancorporation N.A. now owns 7,485 shares of the industrial products company’s stock worth $2,241,000 after purchasing an additional 1,244 shares in the last quarter.

RBC Bearings Stock Performance

Shares of RBC stock opened at $313.48 on Friday. The business’s fifty day simple moving average is $293.66 and its 200-day simple moving average is $285.92. The company has a market cap of $9.85 billion, a PE ratio of 45.76, a PEG ratio of 3.59 and a beta of 1.51. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38. RBC Bearings Incorporated has a 12-month low of $238.21 and a 12-month high of $328.39.

RBC Bearings (NYSE:RBC) last issued 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 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 company posted $2.07 earnings per share. Analysts expect that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Michael J. Hartnett sold 503 shares of the business’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 sale, the chief executive officer now directly owns 322,588 shares of the company’s stock, valued at $93,227,932. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard J. Edwards sold 4,200 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 12,539 shares in the company, valued at $3,669,789.13. This trade represents a 25.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,327 shares of company stock valued at $11,068,921 over the last ninety days. 2.60% of the stock is currently owned by 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.