RBC Bearings (NYSE:RBCP) Shares Up 1%

RBC Bearings Incorporated (NYSE:RBCP – Get Rating) shares shot up 1% on Thursday . The company traded as high as $109.75 and last traded at $109.12. 38,267 shares changed hands during mid-day trading, an increase of 11% from the average session volume of 34,421 shares. The stock had previously closed at $108.01.

RBC Bearings Price Performance

The stock’s fifty day moving average price is $110.06 and its two-hundred day moving average price is $111.60.

Insider Activity

In other news, CEO Michael J. Hartnett sold 1,500 shares of the firm’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $241.67, for a total value of $362,505.00. Following the sale, the chief executive officer now directly owns 275,339 shares in the company, valued at approximately $66,541,176.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. State Street Corp grew its position in shares of RBC Bearings by 4.1% in the 2nd quarter. State Street Corp now owns 75,750 shares of the company’s stock valued at $7,258,000 after buying an additional 3,000 shares during the last quarter. Citigroup Inc. purchased a new position in shares of RBC Bearings in the 1st quarter valued at $682,000. Van ECK Associates Corp grew its position in shares of RBC Bearings by 17.5% in the 2nd quarter. Van ECK Associates Corp now owns 61,351 shares of the company’s stock valued at $5,790,000 after buying an additional 9,157 shares during the last quarter. Wells Fargo & Company MN grew its position in RBC Bearings by 12.4% during the 2nd quarter. Wells Fargo & Company MN now owns 120,625 shares of the company’s stock worth $11,385,000 after purchasing an additional 13,300 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in RBC Bearings during the 1st quarter worth $3,319,000.

RBC Bearings Company Profile

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RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.