First Trust Advisors LP decreased its holdings in shares of Regal Beloit Corp (NYSE:RBC) by 4.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 336,125 shares of the industrial products company’s stock after selling 17,421 shares during the quarter. First Trust Advisors LP’s holdings in Regal Beloit were worth $27,714,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in RBC. LSV Asset Management grew its stake in shares of Regal Beloit by 49.5% during the second quarter. LSV Asset Management now owns 1,196,945 shares of the industrial products company’s stock valued at $97,910,000 after buying an additional 396,237 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Regal Beloit during the second quarter valued at approximately $14,967,000. Dimensional Fund Advisors LP grew its stake in shares of Regal Beloit by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,836,085 shares of the industrial products company’s stock valued at $231,990,000 after buying an additional 152,885 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Regal Beloit by 8.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,382,986 shares of the industrial products company’s stock valued at $114,027,000 after buying an additional 101,878 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. boosted its holdings in shares of Regal Beloit by 174.0% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 146,850 shares of the industrial products company’s stock valued at $12,012,000 after purchasing an additional 93,250 shares during the period. 93.04% of the stock is currently owned by hedge funds and other institutional investors.
Regal Beloit stock opened at $75.49 on Friday. The company has a quick ratio of 1.22, a current ratio of 2.24 and a debt-to-equity ratio of 0.53. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 1.27 and a beta of 1.51. Regal Beloit Corp has a twelve month low of $67.84 and a twelve month high of $86.75.
Regal Beloit (NYSE:RBC) last posted its earnings results on Monday, August 6th. The industrial products company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.01. The company had revenue of $959.70 million during the quarter, compared to analyst estimates of $953.65 million. Regal Beloit had a return on equity of 10.30% and a net margin of 6.77%. Regal Beloit’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.29 earnings per share. Analysts anticipate that Regal Beloit Corp will post 5.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Friday, December 28th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 1.48%. Regal Beloit’s dividend payout ratio is currently 23.00%.
A number of analysts recently issued reports on the company. Zacks Investment Research upgraded Regal Beloit from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Wednesday, October 3rd. Goldman Sachs Group assumed coverage on Regal Beloit in a report on Wednesday, October 3rd. They issued a “buy” rating and a $95.00 price target for the company. Finally, BMO Capital Markets boosted their price target on Regal Beloit from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, August 8th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $90.25.
In other Regal Beloit news, Director Christopher L. Doerr sold 6,085 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $81.43, for a total transaction of $495,501.55. Following the completion of the sale, the director now owns 17,900 shares in the company, valued at $1,457,597. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.20% of the stock is owned by corporate insiders.
Regal Beloit Company Profile
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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