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

Oppenheimer Asset Management Inc. lessened its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 16.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,768 shares of the industrial products company's stock after selling 3,308 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.06% of RBC Bearings worth $5,020,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of RBC Bearings by 22.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company's stock valued at $93,626,000 after acquiring an additional 64,217 shares during the period. Maren Capital LLC increased its position in RBC Bearings by 17.2% during the first quarter. Maren Capital LLC now owns 332,856 shares of the industrial products company's stock worth $89,988,000 after buying an additional 48,844 shares during the last quarter. American Century Companies Inc. raised its stake in RBC Bearings by 30.4% in the second quarter. American Century Companies Inc. now owns 206,630 shares of the industrial products company's stock valued at $55,745,000 after buying an additional 48,209 shares during the period. Douglas Lane & Associates LLC lifted its position in shares of RBC Bearings by 123.9% in the second quarter. Douglas Lane & Associates LLC now owns 81,862 shares of the industrial products company's stock valued at $22,085,000 after buying an additional 45,294 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of RBC Bearings during the 2nd quarter worth approximately $11,708,000.

RBC Bearings Stock Performance

RBC Bearings stock traded down $2.22 during mid-day trading on Friday, hitting $311.25. 32,457 shares of the company's stock traded hands, compared to its average volume of 142,732. 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 firm 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 fifty-two week low of $238.21 and a fifty-two week high of $328.39. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 45.74, a P/E/G ratio of 3.61 and a beta of 1.51.

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

Insider Buying and Selling at RBC Bearings

In other news, CEO Michael J. Hartnett sold 3,000 shares of the company's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $284.23, for a total transaction of $852,690.00. Following the completion of the sale, the chief executive officer now directly owns 294,120 shares in the company, valued at approximately $83,597,727.60. This represents a 1.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total value of $1,229,214.00. Following the sale, the vice president now directly owns 12,539 shares in the company, valued at approximately $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 a total of 38,327 shares of company stock valued at $11,068,921 in the last ninety days. 2.60% of the stock is currently owned by corporate 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.