KeyCorp reiterated their hold rating on shares of Regal Beloit Corp. (NYSE:RBC) in a research note released on Monday.
RBC has been the subject of a number of other research reports. Zacks Investment Research upgraded Regal Beloit Corp. from a sell rating to a hold rating in a report on Monday, September 19th. Seaport Global Securities downgraded Regal Beloit Corp. from an accumulate rating to a neutral rating and dropped their price objective for the company from $68.00 to $64.00 in a report on Tuesday, September 27th. BMO Capital Markets downgraded Regal Beloit Corp. from an outperform rating to a market perform rating and dropped their price objective for the company from $76.00 to $66.00 in a report on Tuesday, August 2nd. TheStreet downgraded Regal Beloit Corp. from a buy rating to a hold rating in a report on Monday, June 20th. Finally, Credit Suisse Group AG reiterated a buy rating and issued a $63.00 price objective on shares of Regal Beloit Corp. in a report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Regal Beloit Corp. has a consensus rating of Hold and a consensus target price of $63.50.
Regal Beloit Corp. (NYSE:RBC) opened at 60.06 on Monday. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 18.95 and a beta of 1.57. The company has a 50 day moving average price of $59.92 and a 200-day moving average price of $60.22. Regal Beloit Corp. has a 52-week low of $47.77 and a 52-week high of $68.45.
Regal Beloit Corp. (NYSE:RBC) last released its quarterly earnings data on Monday, August 8th. The company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by $0.10. The company earned $838.60 million during the quarter, compared to the consensus estimate of $857.88 million. Regal Beloit Corp. had a net margin of 4.30% and a return on equity of 10.35%. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.53 EPS. Equities research analysts anticipate that Regal Beloit Corp. will post $4.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.96 annualized dividend and a dividend yield of 1.60%. Regal Beloit Corp.’s dividend payout ratio is currently 30.28%.
In other news, VP Terry R. Colvin sold 1,615 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $62.47, for a total transaction of $100,889.05. Following the completion of the transaction, the vice president now directly owns 21,146 shares of the company’s stock, valued at $1,320,990.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in Regal Beloit Corp. by 1,443.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,898 shares of the company’s stock valued at $105,000 after buying an additional 1,775 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of Regal Beloit Corp. by 72.7% in the second quarter. LS Investment Advisors LLC now owns 2,730 shares of the company’s stock valued at $150,000 after buying an additional 1,149 shares during the period. Acrospire Investment Management LLC bought a new position in shares of Regal Beloit Corp. during the first quarter valued at approximately $196,000. American Financial Group Inc. bought a new position in shares of Regal Beloit Corp. during the first quarter valued at approximately $200,000. Finally, Cutler Group LP boosted its position in shares of Regal Beloit Corp. by 3,240.0% in the first quarter. Cutler Group LP now owns 3,340 shares of the company’s stock valued at $210,000 after buying an additional 3,240 shares during the period. 95.96% of the stock is owned by institutional investors.
Regal Beloit Corp. Company Profile