Jennison Associates LLC Increases Holdings in RBC Bearings Incorporated $RBC

Jennison Associates LLC raised its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 192,945 shares of the industrial products company’s stock after buying an additional 16,023 shares during the quarter. Jennison Associates LLC’s holdings in RBC Bearings were worth $86,522,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RBC. Artisan Partners Limited Partnership raised its stake in RBC Bearings by 51.7% during the third quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock valued at $241,821,000 after buying an additional 211,093 shares during the last quarter. Invesco Ltd. raised its stake in RBC Bearings by 60.5% during the third quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock valued at $148,763,000 after buying an additional 143,710 shares during the last quarter. First Trust Advisors LP raised its stake in RBC Bearings by 36.4% during the third quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company’s stock valued at $137,669,000 after buying an additional 94,203 shares during the last quarter. American Century Companies Inc. raised its stake in RBC Bearings by 34.8% during the third quarter. American Century Companies Inc. now owns 207,604 shares of the industrial products company’s stock valued at $81,026,000 after buying an additional 53,622 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in RBC Bearings by 2,020.2% during the third quarter. Balyasny Asset Management L.P. now owns 54,276 shares of the industrial products company’s stock valued at $21,183,000 after buying an additional 51,716 shares during the last quarter.

RBC Bearings Stock Up 2.6%

RBC Bearings stock opened at $599.85 on Friday. The firm has a market cap of $18.97 billion, a price-to-earnings ratio of 70.57, a PEG ratio of 2.79 and a beta of 1.49. The stock has a fifty day simple moving average of $566.84 and a two-hundred day simple moving average of $497.78. RBC Bearings Incorporated has a 12 month low of $331.05 and a 12 month high of $607.45. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 EPS for the quarter, topping the consensus estimate of $2.83 by $0.21. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The company had revenue of $461.60 million during the quarter, compared to analyst estimates of $460.69 million. During the same quarter in the previous year, the company posted $2.34 earnings per share. RBC Bearings’s revenue was up 17.0% compared to the same quarter last year. Equities analysts predict that RBC Bearings Incorporated will post 11.65 EPS for the current fiscal year.

Analyst Ratings Changes

RBC has been the subject of a number of research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $542.00 target price on shares of RBC Bearings in a report on Monday, February 9th. Morgan Stanley reissued an “overweight” rating and issued a $600.00 target price on shares of RBC Bearings in a report on Friday, February 6th. KeyCorp lifted their target price on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Finally, Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $574.67.

RBC Bearings Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.