Other analysts have also recently issued reports about the company. TheStreet upgraded Regal Beloit Corp. from a hold rating to a buy rating in a research note on Thursday, August 18th. Credit Suisse Group AG reiterated a buy rating and issued a $63.00 price objective on shares of Regal Beloit Corp. in a research note on Tuesday, August 9th. Zacks Investment Research upgraded Regal Beloit Corp. from a sell rating to a hold rating in a research note on Monday, September 19th. Jefferies Group reiterated a hold rating on shares of Regal Beloit Corp. in a research note on Friday, July 1st. Finally, BMO Capital Markets cut Regal Beloit Corp. from an outperform rating to a market perform rating and reduced their price objective for the company from $76.00 to $66.00 in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Regal Beloit Corp. presently has a consensus rating of Hold and a consensus target price of $63.50.
Shares of Regal Beloit Corp. (NYSE:RBC) opened at 59.36 on Monday. The stock has a market cap of $2.66 billion, a P/E ratio of 18.73 and a beta of 1.57. Regal Beloit Corp. has a 1-year low of $47.77 and a 1-year high of $68.45. The firm’s 50-day moving average price is $59.82 and its 200 day moving average price is $60.22.
Regal Beloit Corp. (NYSE:RBC) last announced its quarterly earnings data on Monday, August 8th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by $0.10. The company earned $838.60 million during the quarter, compared to analyst estimates of $857.88 million. Regal Beloit Corp. had a net margin of 4.30% and a return on equity of 10.35%. The firm’s revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.53 earnings per share. On average, equities analysts expect that Regal Beloit Corp. will post $4.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Wednesday, September 28th. Regal Beloit Corp.’s payout ratio is 30.28%.
In other Regal Beloit Corp. news, VP Terry R. Colvin sold 1,615 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $62.47, for a total transaction of $100,889.05. Following the transaction, the vice president now owns 21,146 shares of the company’s stock, valued at $1,320,990.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of Regal Beloit Corp. by 1,443.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,898 shares of the company’s stock valued at $105,000 after buying an additional 1,775 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Regal Beloit Corp. by 72.7% in the second quarter. LS Investment Advisors LLC now owns 2,730 shares of the company’s stock valued at $150,000 after buying an additional 1,149 shares during the last quarter. Acrospire Investment Management LLC raised its position in shares of Regal Beloit Corp. by 9.7% in the second quarter. Acrospire Investment Management LLC now owns 3,400 shares of the company’s stock valued at $187,000 after buying an additional 300 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of Regal Beloit Corp. during the second quarter valued at about $188,000. Finally, American Financial Group Inc. purchased a new position in shares of Regal Beloit Corp. during the first quarter valued at about $200,000. 95.96% of the stock is currently owned by institutional investors.
About Regal Beloit Corp.
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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