Chesapeake Capital Corp IL Increases Position in RBC Bearings Incorporated (NYSE:RBC)

Chesapeake Capital Corp IL raised its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 29.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,148 shares of the industrial products company’s stock after buying an additional 483 shares during the period. Chesapeake Capital Corp IL’s holdings in RBC Bearings were worth $644,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RBC. Russell Investments Group Ltd. boosted its position in shares of RBC Bearings by 31.2% during the first quarter. Russell Investments Group Ltd. now owns 3,248 shares of the industrial products company’s stock valued at $878,000 after buying an additional 772 shares during the period. Vanguard Group Inc. boosted its position in shares of RBC Bearings by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock valued at $738,433,000 after buying an additional 19,574 shares during the period. Seven Eight Capital LP purchased a new position in shares of RBC Bearings during the first quarter valued at approximately $676,000. Bessemer Group Inc. boosted its position in shares of RBC Bearings by 75.2% during the first quarter. Bessemer Group Inc. now owns 52,586 shares of the industrial products company’s stock valued at $14,216,000 after buying an additional 22,573 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of RBC Bearings by 1.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 16,303 shares of the industrial products company’s stock valued at $4,404,000 after buying an additional 203 shares during the period.

Insider Activity

In related news, CEO Michael J. Hartnett sold 503 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the transaction, the chief executive officer now 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 SEC, which is available at the SEC website. Also, VP Richard J. Edwards sold 4,200 shares of the business’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 transaction, the vice president now directly owns 12,539 shares of the company’s stock, valued at $3,669,789.13. This trade represents a 25.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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 Stock Up 0.0 %

Shares of NYSE:RBC opened at $313.48 on Friday. The business has a 50 day simple moving average of $293.66 and a two-hundred day simple moving average of $285.92. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. RBC Bearings Incorporated has a 1 year low of $238.21 and a 1 year high of $328.39. The firm has a market capitalization of $9.85 billion, a PE ratio of 45.76, a price-to-earnings-growth ratio of 3.59 and a beta of 1.51.

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

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.