Today, Jennison Associates LLC Reached $1,233,000 position of RBC Bearings Inc. (ROLL)

Today, Jennison Associates LLC Reached $1,233,000 position  of RBC Bearings Inc. (ROLL)

Jennison Associates LLC cut its stake in shares of RBC Bearings Inc. (NASDAQ:ROLL) by 2.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,124 shares of the company’s stock after selling 371 shares during the period. Jennison Associates LLC owned 0.07% of RBC Bearings worth $1,233,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in RBC Bearings by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 152,007 shares of the company’s stock valued at $11,020,000 after buying an additional 4,184 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its position in RBC Bearings by 22.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 472,666 shares of the company’s stock valued at $34,268,000 after buying an additional 85,697 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its position in RBC Bearings by 47.4% in the second quarter. Bbva Compass Bancshares Inc. now owns 11,322 shares of the company’s stock valued at $820,000 after buying an additional 3,641 shares in the last quarter. Henderson Group PLC boosted its position in RBC Bearings by 57.5% in the second quarter. Henderson Group PLC now owns 360,859 shares of the company’s stock valued at $26,162,000 after buying an additional 131,804 shares in the last quarter. Finally, Whittier Trust Co. boosted its position in RBC Bearings by 1.2% in the second quarter. Whittier Trust Co. now owns 19,865 shares of the company’s stock valued at $1,440,000 after buying an additional 238 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

RBC Bearings Inc. (NASDAQ:ROLL) opened at 85.58 on Friday. The company has a market capitalization of $2.01 billion, a PE ratio of 27.97 and a beta of 1.10. The firm’s 50-day moving average is $74.93 and its 200-day moving average is $75.23. RBC Bearings Inc. has a 52-week low of $54.38 and a 52-week high of $87.82.

RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. RBC Bearings had a return on equity of 11.71% and a net margin of 11.75%. The firm had revenue of $153.90 million for the quarter, compared to analyst estimates of $153.26 million. During the same period in the previous year, the firm earned $0.76 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that RBC Bearings Inc. will post $3.21 EPS for the current year.

Several research firms recently weighed in on ROLL. Zacks Investment Research cut shares of RBC Bearings from a “hold” rating to a “sell” rating in a research note on Friday, August 26th. Seaport Global Securities cut shares of RBC Bearings from an “accumulate” rating to a “neutral” rating and set a $73.00 target price for the company. in a research note on Friday, October 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $75.60.

In other RBC Bearings news, General Counsel Thomas J. Williams sold 8,460 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $71.43, for a total value of $604,297.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael J. Hartnett sold 6,742 shares of the business’s stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $76.12, for a total value of $513,201.04. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.

RBC Bearings Company Profile

RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision bearings and products, which are integral to the manufacture and operation of machines, aircraft and mechanical systems. The Company operates through four segments: Plain Bearings; Roller Bearings; Ball Bearings, and Engineered Products.

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