Apollon Wealth Management LLC Cuts Position in RBC Bearings Incorporated (NYSE:RBC)

Apollon Wealth Management LLC decreased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 2.7% in the third quarter, HoldingsChannel.com reports. The firm owned 1,840 shares of the industrial products company’s stock after selling 52 shares during the quarter. Apollon Wealth Management LLC’s holdings in RBC Bearings were worth $551,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at RBC Bearings

In other news, CEO Michael J. Hartnett sold 3,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $284.23, for a total transaction of $852,690.00. Following the transaction, the chief executive officer now owns 294,120 shares of the company’s stock, valued at approximately $83,597,727.60. The trade was a 1.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. The trade was 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 have sold 38,327 shares of company stock worth $11,068,921. Corporate insiders own 2.60% of the company’s stock.

RBC Bearings Stock Up 0.0 %

RBC opened at $313.48 on Friday. The company has a market cap of $9.85 billion, a PE ratio of 45.76, a price-to-earnings-growth ratio of 3.61 and a beta of 1.51. RBC Bearings Incorporated has a twelve month low of $238.21 and a twelve month high of $328.39. The company has a 50-day moving average price of $293.66 and a 200 day moving average price of $285.92. 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 announced its earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The firm had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. RBC Bearings’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.07 EPS. Sell-side analysts expect that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

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.