Principal Financial Group Inc. boosted its position in shares of Regal Beloit Corp. (NYSE:RBC) by 11.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 168,379 shares of the company’s stock after buying an additional 17,948 shares during the period. Principal Financial Group Inc. owned approximately 0.38% of Regal Beloit Corp. worth $9,269,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its position 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 during the last quarter. Hancock Holding Co. bought a new position in shares of Regal Beloit Corp. during the second quarter worth $420,000. Dimensional Fund Advisors LP raised its position 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 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 worth $187,000 after buying an additional 300 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of Regal Beloit Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 6,234 shares of the company’s stock worth $343,000 after buying an additional 758 shares during the last quarter. Institutional investors and hedge funds own 96.00% of the company’s stock.
Regal Beloit Corp. (NYSE:RBC) opened at 59.55 on Monday. The firm has a 50-day moving average of $59.74 and a 200 day moving average of $60.20. The company has a market capitalization of $2.66 billion, a PE ratio of 18.79 and a beta of 1.57. Regal Beloit Corp. has a 12-month low of $47.77 and a 12-month high of $68.45.
Regal Beloit Corp. (NYSE:RBC) last posted its earnings results on Monday, August 8th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.24 by $0.10. The business had revenue of $838.60 million for the quarter, compared to the consensus estimate of $857.88 million. Regal Beloit Corp. had a return on equity of 10.35% and a net margin of 4.30%. The company’s revenue was down 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 earnings per share. Analysts forecast that Regal Beloit Corp. will post $4.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, September 28th. Regal Beloit Corp.’s payout ratio is presently 30.28%.
RBC has been the subject of a number of recent research reports. TheStreet downgraded shares of Regal Beloit Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 20th. Jefferies Group restated a “hold” rating on shares of Regal Beloit Corp. in a research note on Friday, July 1st. Credit Suisse Group AG restated a “buy” rating on shares of Regal Beloit Corp. in a research note on Saturday, July 9th. BMO Capital Markets downgraded shares of Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $76.00 to $66.00 in a research note on Tuesday, August 2nd. Finally, Zacks Investment Research upgraded shares of Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $63.50.
In other Regal Beloit Corp. news, VP Terry R. Colvin sold 1,615 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $62.47, for a total value of $100,889.05. Following the transaction, the vice president now directly owns 21,146 shares in the company, valued at $1,320,990.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.
Regal Beloit Corp. Company Profile
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.
Want to see what other hedge funds are holding RBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regal Beloit Corp. (NYSE:RBC).
Receive News & Ratings for Regal Beloit Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Beloit Corp. and related companies with MarketBeat.com's FREE daily email newsletter.