Shares of Regal Beloit Corp. (NYSE:RBC) have earned a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $63.17.
Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 19th. Seaport Global Securities downgraded shares of Regal Beloit Corp. from an “accumulate” rating to a “neutral” rating and cut their target price for the company from $68.00 to $64.00 in a research note on Tuesday, September 27th. BMO Capital Markets downgraded shares of Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and cut their target price for the company from $76.00 to $66.00 in a research note on Tuesday, August 2nd. TheStreet downgraded shares of Regal Beloit Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 20th. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $63.00 target price on shares of Regal Beloit Corp. in a research note on Tuesday, August 9th.
Regal Beloit Corp. (NYSE:RBC) opened at 61.14 on Thursday. The firm’s 50 day moving average price is $60.13 and its 200-day moving average price is $60.23. Regal Beloit Corp. has a 52 week low of $47.77 and a 52 week high of $68.45. The firm has a market cap of $2.74 billion, a PE ratio of 19.29 and a beta of 1.57.
Regal Beloit Corp. (NYSE:RBC) last posted its quarterly earnings results on Monday, August 8th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by $0.10. The company earned $838.60 million during the quarter, compared to the consensus estimate of $857.88 million. Regal Beloit Corp. had a net margin of 4.30% and a return on equity of 10.35%. Regal Beloit Corp.’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 EPS. On average, analysts forecast that Regal Beloit Corp. will post $4.39 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Wednesday, September 28th. Regal Beloit Corp.’s dividend payout ratio is presently 30.28%.
In related news, VP Terry R. Colvin sold 1,615 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $62.47, for a total value of $100,889.05. Following the completion of the sale, the vice president now directly owns 21,146 shares in the company, valued at $1,320,990.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of RBC. FMR LLC boosted its stake in shares of Regal Beloit Corp. by 336.2% in the second quarter. FMR LLC now owns 4,998,125 shares of the company’s stock worth $275,146,000 after buying an additional 3,852,394 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Regal Beloit Corp. by 28.1% in the first quarter. JPMorgan Chase & Co. now owns 3,889,360 shares of the company’s stock worth $245,379,000 after buying an additional 854,331 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Regal Beloit Corp. during the second quarter worth about $32,657,000. Prudential Financial Inc. boosted its stake in shares of Regal Beloit Corp. by 139.7% in the second quarter. Prudential Financial Inc. now owns 885,956 shares of the company’s stock worth $48,771,000 after buying an additional 516,355 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Regal Beloit Corp. by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,890,545 shares of the company’s stock worth $104,067,000 after buying an additional 354,976 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.
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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