Regal Beloit Corp. (NYSE:RBC)‘s stock had its “hold” rating restated by investment analysts at KeyCorp in a research note issued to investors on Monday.
A number of other research analysts have also weighed in on RBC. Credit Suisse Group AG restated a “buy” rating on shares of Regal Beloit Corp. in a report on Saturday, July 9th. Jefferies Group restated a “hold” rating on shares of Regal Beloit Corp. in a report on Friday, July 1st. Zacks Investment Research upgraded Regal Beloit Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 19th. TheStreet lowered Regal Beloit Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 20th. Finally, BMO Capital Markets lowered Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $76.00 to $66.00 in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $63.50.
Regal Beloit Corp. (NYSE:RBC) opened at 61.11 on Monday. The company has a market capitalization of $2.73 billion, a PE ratio of 19.28 and a beta of 1.57. The stock has a 50 day moving average of $60.20 and a 200-day moving average of $60.26. Regal Beloit Corp. has a 12-month low of $47.77 and a 12-month high of $68.45.
Regal Beloit Corp. (NYSE:RBC) last announced its quarterly earnings data on Monday, August 8th. The company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by $0.10. The firm earned $838.60 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.53 EPS. Equities analysts expect that Regal Beloit Corp. will post $4.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.96 annualized dividend and a yield of 1.57%. Regal Beloit Corp.’s dividend payout ratio (DPR) is currently 30.28%.
In related news, VP Terry R. Colvin sold 1,615 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $62.47, for a total value of $100,889.05. Following the sale, the vice president now directly owns 21,146 shares in the company, valued at approximately $1,320,990.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased 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 increased its position in 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 in the last quarter. Acrospire Investment Management LLC increased its position in Regal Beloit Corp. by 9.7% in the second quarter. Acrospire Investment Management LLC now owns 3,400 shares of the company’s stock valued at $187,000 after buying an additional 300 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Regal Beloit Corp. during the second quarter valued at $188,000. Finally, American Financial Group Inc. purchased a new position in Regal Beloit Corp. during the first quarter valued at $200,000. 95.96% of the stock is owned by institutional investors.
Regal Beloit Corp. Company Profile