OppenheimerFunds Inc. grew its position in Regal Beloit (NYSE:RBC) by 14.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,584 shares of the industrial products company’s stock after buying an additional 1,594 shares during the period. OppenheimerFunds Inc.’s holdings in Regal Beloit were worth $964,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in Regal Beloit by 2,200.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 2,200 shares during the period. Pinebridge Investments L.P. acquired a new stake in Regal Beloit during the 3rd quarter valued at approximately $204,000. State of Alaska Department of Revenue acquired a new stake in Regal Beloit during the 4th quarter valued at approximately $199,000. Magnetar Financial LLC purchased a new position in shares of Regal Beloit during the 3rd quarter valued at approximately $246,000. Finally, Regentatlantic Capital LLC purchased a new position in shares of Regal Beloit during the 4th quarter valued at approximately $241,000. Institutional investors and hedge funds own 96.70% of the company’s stock.
Several equities analysts have recently weighed in on the stock. ValuEngine lowered shares of Regal Beloit from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Barclays assumed coverage on shares of Regal Beloit in a report on Thursday, February 15th. They issued an “equal weight” rating and a $80.00 price target for the company. Zacks Investment Research raised shares of Regal Beloit from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, February 13th. Barrington Research reissued an “outperform” rating and issued a $87.00 price target on shares of Regal Beloit in a report on Monday, February 12th. Finally, Seaport Global Securities raised shares of Regal Beloit from a “neutral” rating to a “buy” rating and upped their target price for the stock from $82.00 to $88.00 in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. Regal Beloit has an average rating of “Hold” and a consensus price target of $86.08.
NYSE:RBC traded down $2.00 on Friday, reaching $71.60. 307,615 shares of the company’s stock were exchanged, compared to its average volume of 301,046. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.21 and a quick ratio of 1.15. The firm has a market capitalization of $3,173.24, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.17 and a beta of 1.38. Regal Beloit has a 52-week low of $67.84 and a 52-week high of $87.50.
Regal Beloit (NYSE:RBC) last issued its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.01. Regal Beloit had a net margin of 6.34% and a return on equity of 9.64%. The company had revenue of $820.70 million for the quarter, compared to analyst estimates of $794.65 million. During the same period in the prior year, the firm earned $1.04 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. analysts expect that Regal Beloit will post 5.57 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.04 annualized dividend and a yield of 1.45%. Regal Beloit’s dividend payout ratio is currently 21.36%.
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About Regal Beloit
Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and power transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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