Teacher Retirement System of Texas raised its position in Regal Beloit Corp. (NYSE:RBC) by 13.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,234 shares of the company’s stock after buying an additional 758 shares during the period. Teacher Retirement System of Texas’ holdings in Regal Beloit Corp. were worth $343,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in shares of Regal Beloit Corp. by 0.8% in the first quarter. State Street Corp now owns 1,104,459 shares of the company’s stock worth $69,681,000 after buying an additional 8,563 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Regal Beloit Corp. during the second quarter worth approximately $15,596,000. California Public Employees Retirement System boosted its position in shares of Regal Beloit Corp. by 3.9% in the second quarter. California Public Employees Retirement System now owns 115,900 shares of the company’s stock worth $6,380,000 after buying an additional 4,400 shares during the last quarter. Cutler Group LP boosted its position in shares of Regal Beloit Corp. by 3,240.0% in the first quarter. Cutler Group LP now owns 3,340 shares of the company’s stock worth $210,000 after buying an additional 3,240 shares during the last quarter. Finally, BlackRock Group LTD boosted its position in shares of Regal Beloit Corp. by 12.9% in the first quarter. BlackRock Group LTD now owns 440,927 shares of the company’s stock worth $27,819,000 after buying an additional 50,324 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.
Regal Beloit Corp. (NYSE:RBC) traded down 1.68% during midday trading on Thursday, hitting $59.05. 13,348 shares of the stock traded hands. The company’s 50-day moving average is $59.92 and its 200 day moving average is $60.22. Regal Beloit Corp. has a 12-month low of $47.77 and a 12-month high of $68.45. The firm has a market cap of $2.64 billion, a P/E ratio of 18.63 and a beta of 1.57.
Regal Beloit Corp. (NYSE:RBC) last released its earnings results on Monday, August 8th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.24 by $0.10. Regal Beloit Corp. had a return on equity of 10.35% and a net margin of 4.30%. The business had revenue of $838.60 million for the quarter, compared to analysts’ expectations of $857.88 million. During the same period in the previous year, the company earned $1.53 EPS. Regal Beloit Corp.’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, analysts anticipate that Regal Beloit Corp. will post $4.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Wednesday, September 28th. Regal Beloit Corp.’s payout ratio is 30.28%.
A number of equities analysts have commented on RBC shares. 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 lowered shares of Regal Beloit Corp. from an “accumulate” rating to a “neutral” rating and lowered their target price for the stock from $68.00 to $64.00 in a report on Tuesday, September 27th. BMO Capital Markets lowered shares of Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $76.00 to $66.00 in a report on Tuesday, August 2nd. TheStreet lowered shares of Regal Beloit Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 20th. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $63.00 target price on shares of Regal Beloit Corp. in a report on Tuesday, August 9th. One 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. The stock has an average rating of “Hold” and a consensus price target of $63.50.
In other 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 transaction of $100,889.05. Following the completion of the sale, the vice president now owns 21,146 shares of the company’s stock, valued at $1,320,990.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% 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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