First Quadrant L P CA purchased a new position in shares of Regal Beloit Corp (NYSE:RBC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,910 shares of the industrial products company’s stock, valued at approximately $254,000.
A number of other institutional investors also recently added to or reduced their stakes in RBC. Parallel Advisors LLC boosted its holdings in Regal Beloit by 104.4% in the second quarter. Parallel Advisors LLC now owns 374 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 191 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Regal Beloit by 417.1% in the first quarter. Meeder Asset Management Inc. now owns 755 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 609 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in Regal Beloit in the first quarter valued at $65,000. First Mercantile Trust Co. lifted its stake in shares of Regal Beloit by 31.2% during the first quarter. First Mercantile Trust Co. now owns 2,248 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 535 shares in the last quarter. Finally, IndexIQ Advisors LLC acquired a new position in shares of Regal Beloit during the first quarter worth about $192,000. 94.49% of the stock is owned by institutional investors.
Shares of NYSE RBC opened at $91.97 on Friday. Regal Beloit Corp has a 1 year low of $51.99 and a 1 year high of $94.99. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 2.29 and a beta of 1.41. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.03 and a current ratio of 3.16. The stock’s 50-day simple moving average is $86.77 and its 200-day simple moving average is $78.35.
Regal Beloit (NYSE:RBC) last announced its earnings results on Monday, May 4th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.22. The business had revenue of $734.20 million for the quarter, compared to analyst estimates of $746.41 million. Regal Beloit had a return on equity of 9.49% and a net margin of 6.38%. The company’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.40 earnings per share. As a group, research analysts predict that Regal Beloit Corp will post 4.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.30%. The ex-dividend date is Thursday, September 24th. Regal Beloit’s dividend payout ratio is currently 21.86%.
RBC has been the topic of a number of recent research reports. KeyCorp boosted their price objective on Regal Beloit from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Zacks Investment Research cut Regal Beloit from a “hold” rating to a “sell” rating and set a $76.00 price objective on the stock. in a research note on Thursday, May 7th. Oppenheimer initiated coverage on Regal Beloit in a research note on Thursday, June 11th. They set a “buy” rating and a $93.00 price objective on the stock. Barclays upgraded Regal Beloit from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $85.00 to $100.00 in a research note on Monday, June 1st. Finally, Robert W. Baird boosted their price objective on Regal Beloit from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Regal Beloit has an average rating of “Hold” and a consensus price target of $86.25.
About Regal Beloit
Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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