TIAA CREF Investment Management LLC lowered its stake in shares of Regal Beloit (NYSE:RBC) by 8.9% during the fourth quarter, Holdings Channel reports. The fund owned 132,869 shares of the industrial products company’s stock after selling 12,997 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in Regal Beloit were worth $10,178,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of RBC. Amundi Pioneer Asset Management Inc. purchased a new position in Regal Beloit during the fourth quarter worth about $100,000. Tower Research Capital LLC TRC lifted its position in Regal Beloit by 2,200.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the industrial products company’s stock worth $176,000 after buying an additional 2,200 shares during the period. State of Alaska Department of Revenue purchased a new position in Regal Beloit during the fourth quarter worth about $199,000. Pinebridge Investments L.P. purchased a new position in Regal Beloit during the third quarter worth about $204,000. Finally, Regentatlantic Capital LLC purchased a new position in Regal Beloit during the fourth quarter worth about $241,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded Regal Beloit from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Tuesday, February 13th. Barrington Research reiterated an “outperform” rating and set a $87.00 target price on shares of Regal Beloit in a research report on Monday, February 12th. Seaport Global Securities upgraded Regal Beloit from a “neutral” rating to a “buy” rating and increased their target price for the stock from $82.00 to $88.00 in a research report on Wednesday, February 7th. ValuEngine downgraded Regal Beloit from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, Barclays assumed coverage on Regal Beloit in a research report on Thursday, February 15th. They set an “equal weight” rating and a $80.00 target price on the stock. One 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. The company presently has an average rating of “Hold” and a consensus target price of $86.08.
Regal Beloit stock opened at $71.60 on Friday. The stock has a market capitalization of $3,261.86, a PE ratio of 14.70, a PEG ratio of 1.20 and a beta of 1.38. The company has a current ratio of 2.21, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. Regal Beloit has a 12 month low of $67.84 and a 12 month high of $87.50.
Regal Beloit (NYSE:RBC) last released its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01. The company had revenue of $820.70 million for the quarter, compared to the consensus estimate of $794.65 million. Regal Beloit had a return on equity of 9.64% and a net margin of 6.34%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $1.04 EPS. equities analysts forecast that Regal Beloit will post 5.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 29th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.45%. Regal Beloit’s dividend payout ratio (DPR) is 21.36%.
TRADEMARK VIOLATION NOTICE: This news story was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this news story can be accessed at https://www.dispatchtribunal.com/2018/04/08/tiaa-cref-investment-management-llc-has-10-18-million-position-in-regal-beloit-rbc.html.
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.
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 (NYSE:RBC).
Receive News & Ratings for Regal Beloit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Beloit and related companies with MarketBeat.com's FREE daily email newsletter.