New York State Common Retirement Fund raised its stake in shares of Regal Beloit Corp (NYSE:RBC) by 3.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 118,106 shares of the industrial products company’s stock after acquiring an additional 3,500 shares during the period. New York State Common Retirement Fund owned approximately 0.26% of Regal Beloit worth $9,330,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in RBC. Principal Financial Group Inc. increased its holdings in Regal Beloit by 133.4% in the 3rd quarter. Principal Financial Group Inc. now owns 444,149 shares of the industrial products company’s stock worth $35,088,000 after acquiring an additional 253,888 shares in the last quarter. Kennedy Capital Management Inc. increased its holdings in Regal Beloit by 94.7% in the 2nd quarter. Kennedy Capital Management Inc. now owns 364,485 shares of the industrial products company’s stock worth $29,724,000 after acquiring an additional 177,243 shares in the last quarter. Northern Trust Corp grew its holdings in Regal Beloit by 16.6% during the 2nd quarter. Northern Trust Corp now owns 612,609 shares of the industrial products company’s stock valued at $49,958,000 after buying an additional 87,032 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Regal Beloit by 41.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 254,232 shares of the industrial products company’s stock valued at $20,715,000 after buying an additional 74,425 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in Regal Beloit by 11.4% during the 3rd quarter. Prudential Financial Inc. now owns 630,849 shares of the industrial products company’s stock valued at $49,837,000 after buying an additional 64,750 shares in the last quarter. 93.81% of the stock is owned by institutional investors.
Regal Beloit Corp (NYSE RBC) traded up $0.05 during trading hours on Friday, hitting $78.05. The stock had a trading volume of 172,052 shares, compared to its average volume of 249,674. The company has a market capitalization of $3,460.00, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 1.32 and a beta of 1.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.22 and a current ratio of 2.22. Regal Beloit Corp has a fifty-two week low of $70.25 and a fifty-two week high of $87.50.
Regal Beloit (NYSE:RBC) last announced its quarterly earnings results on Monday, November 6th. The industrial products company reported $1.37 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.01). The firm had revenue of $857.00 million for the quarter, compared to analysts’ expectations of $837.19 million. Regal Beloit had a net margin of 6.28% and a return on equity of 9.76%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.31 EPS. analysts forecast that Regal Beloit Corp will post 4.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were paid a $0.26 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.04 annualized dividend and a yield of 1.33%. Regal Beloit’s dividend payout ratio (DPR) is presently 22.61%.
RBC has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $90.00 price objective on shares of Regal Beloit in a report on Tuesday, November 28th. ValuEngine raised shares of Regal Beloit from a “hold” rating to a “buy” rating in a report on Tuesday, December 19th. Robert W. Baird reissued a “buy” rating and issued a $88.00 target price on shares of Regal Beloit in a report on Wednesday, October 4th. Zacks Investment Research raised shares of Regal Beloit from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Tuesday, January 2nd. Finally, BMO Capital Markets cut their target price on shares of Regal Beloit from $88.00 to $85.00 and set a “market perform” rating for the company in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $86.56.
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About Regal Beloit
Regal Beloit Corporation is a manufacturer of electric motors, electrical motion controls, power generation and power transmission products. The Company operates through three segments: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, open gearing and specialty mechanical products which control motion and torque.
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