RBC Bearings Incorporated (NYSE:RBC) Stock Position Raised by Zions Bancorporation N.A.

Zions Bancorporation N.A. lifted its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 19.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,485 shares of the industrial products company’s stock after buying an additional 1,244 shares during the period. Zions Bancorporation N.A.’s holdings in RBC Bearings were worth $2,241,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Geneva Capital Management LLC grew its position in shares of 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 valued at $176,829,000 after buying an additional 8,012 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of RBC Bearings during the 3rd quarter valued at about $517,000. Versor Investments LP bought a new stake in shares of RBC Bearings during the 3rd quarter valued at about $435,000. Crossmark Global Holdings Inc. grew its position in shares of RBC Bearings by 29.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,280 shares of the industrial products company’s stock valued at $683,000 after buying an additional 523 shares during the last quarter. Finally, TimesSquare Capital Management LLC grew its position in shares of 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 valued at $27,125,000 after buying an additional 13,395 shares during the last quarter.

Insiders Place Their Bets

In other news, CEO Michael J. Hartnett sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $284.23, for a total value of $852,690.00. Following the completion of the sale, the chief executive officer now directly owns 294,120 shares of the company’s stock, valued at approximately $83,597,727.60. This represents a 1.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Richard J. Edwards sold 4,200 shares of the company’s 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 sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 38,327 shares of company stock worth $11,068,921. Insiders own 2.60% of the company’s stock.

RBC Bearings Price Performance

Shares of NYSE:RBC opened at $313.33 on Friday. RBC Bearings Incorporated has a fifty-two week low of $238.21 and a fifty-two 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. The company 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 firm has a 50-day simple moving average of $293.05 and a 200 day simple moving average of $285.17.

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

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.