RBC Bearings Incorporated $RBC Shares Purchased by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership increased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 51.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 619,592 shares of the industrial products company’s stock after buying an additional 211,093 shares during the quarter. Artisan Partners Limited Partnership owned about 1.96% of RBC Bearings worth $241,821,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new stake in shares of RBC Bearings in the 1st quarter valued at $26,000. AQR Capital Management LLC lifted its position in RBC Bearings by 27.8% during the first quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock valued at $417,000 after purchasing an additional 282 shares during the period. Integrated Wealth Concepts LLC lifted its position in RBC Bearings by 32.7% during the first quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock valued at $395,000 after purchasing an additional 303 shares during the period. Jones Financial Companies Lllp boosted its holdings in RBC Bearings by 64.1% in the first quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 434 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in RBC Bearings by 2.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock worth $68,133,000 after purchasing an additional 4,253 shares during the period.

RBC Bearings Price Performance

Shares of RBC Bearings stock opened at $576.10 on Friday. The business has a 50 day simple moving average of $505.61 and a two-hundred day simple moving average of $441.61. RBC Bearings Incorporated has a 12 month low of $297.28 and a 12 month high of $576.72. The stock has a market capitalization of $18.22 billion, a P/E ratio of 67.78, a PEG ratio of 3.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The firm had revenue of $461.60 million for the quarter, compared to analyst estimates of $460.69 million. During the same period in the previous year, the company posted $2.34 earnings per share. The business’s revenue was up 17.0% on a year-over-year basis. As a group, analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RBC shares. Truist Financial boosted their price objective on RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $527.00 target price on RBC Bearings and gave the stock a “buy” rating in a report on Wednesday, December 17th. KeyCorp boosted their price target on RBC Bearings from $535.00 to $595.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $600.00 price objective on shares of RBC Bearings in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $560.50.

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.