Dean Capital Management lowered its position in Regal Beloit Corp (NYSE:RBC) by 28.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 37,440 shares of the industrial products company’s stock after selling 14,600 shares during the period. Regal Beloit accounts for approximately 2.0% of Dean Capital Management’s portfolio, making the stock its 11th biggest holding. Dean Capital Management owned approximately 0.09% of Regal Beloit worth $3,063,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in RBC. Mackay Shields LLC purchased a new stake in shares of Regal Beloit in the 1st quarter worth about $2,338,000. Victory Capital Management Inc. lifted its position in shares of Regal Beloit by 1.9% in the 1st quarter. Victory Capital Management Inc. now owns 193,170 shares of the industrial products company’s stock worth $14,169,000 after purchasing an additional 3,660 shares during the period. Swiss National Bank lifted its position in shares of Regal Beloit by 1.0% in the 1st quarter. Swiss National Bank now owns 77,522 shares of the industrial products company’s stock worth $5,686,000 after purchasing an additional 800 shares during the period. ING Groep NV purchased a new stake in shares of Regal Beloit in the 1st quarter worth about $494,000. Finally, Riverhead Capital Management LLC lifted its position in shares of Regal Beloit by 7.9% in the 1st quarter. Riverhead Capital Management LLC now owns 15,654 shares of the industrial products company’s stock worth $1,148,000 after purchasing an additional 1,150 shares during the period. Institutional investors own 93.06% of the company’s stock.
RBC has been the subject of several research analyst reports. Zacks Investment Research cut shares of Regal Beloit from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Wolfe Research initiated coverage on shares of Regal Beloit in a research report on Wednesday, June 27th. They issued an “outperform” rating and a $97.00 target price for the company. BMO Capital Markets raised their target price on shares of Regal Beloit from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 8th. Finally, Goldman Sachs Group initiated coverage on shares of Regal Beloit in a research report on Wednesday. They issued a “buy” rating and a $95.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Regal Beloit has a consensus rating of “Buy” and a consensus price target of $90.25.
NYSE RBC traded down $0.42 during trading hours on Friday, reaching $83.53. 193,012 shares of the company’s stock traded hands, compared to its average volume of 266,765. Regal Beloit Corp has a 52-week low of $67.84 and a 52-week high of $86.75. The stock has a market cap of $3.58 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.39 and a beta of 1.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.24 and a quick ratio of 1.22.
Regal Beloit (NYSE:RBC) last issued its quarterly earnings results on Monday, August 6th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.01. Regal Beloit had a net margin of 6.77% and a return on equity of 10.30%. The company had revenue of $959.70 million during the quarter, compared to analysts’ expectations of $953.65 million. During the same period last year, the company posted $1.29 EPS. Regal Beloit’s revenue was up 10.4% on a year-over-year basis. Research analysts expect that Regal Beloit Corp will post 5.92 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 28th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.12 dividend on an annualized basis and a yield of 1.34%. Regal Beloit’s dividend payout ratio (DPR) is currently 23.00%.
In related news, Director Christopher L. Doerr sold 6,085 shares of Regal Beloit stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $81.43, for a total transaction of $495,501.55. Following the completion of the transaction, the director now directly owns 17,900 shares of the company’s stock, valued at approximately $1,457,597. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.30% of the company’s stock.
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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