Regal Beloit Corp.’s (RBC) “Hold” Rating Reaffirmed at KeyCorp
Other analysts have also issued research reports about the company. TheStreet raised Regal Beloit Corp. from a hold rating to a buy rating in a research note on Thursday, August 18th. 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. Zacks Investment Research upgraded Regal Beloit Corp. from a sell rating to a hold rating in a report on Monday, September 19th. Jefferies Group reiterated a hold rating on shares of Regal Beloit Corp. in a report on Friday, July 1st. Finally, BMO Capital Markets downgraded Regal Beloit Corp. from an outperform rating to a market perform rating and decreased their price objective for the stock from $76.00 to $66.00 in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $63.50.
Regal Beloit Corp. (NYSE:RBC) traded down 0.64% during trading on Monday, reaching $60.75. 11,283 shares of the company’s stock were exchanged. Regal Beloit Corp. has a 12 month low of $47.77 and a 12 month high of $68.45. The firm has a 50 day moving average of $60.13 and a 200-day moving average of $60.23. The stock has a market cap of $2.72 billion, a PE ratio of 19.17 and a beta of 1.57.
Regal Beloit Corp. (NYSE:RBC) last announced its quarterly earnings results on Monday, August 8th. The company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by $0.10. Regal Beloit Corp. had a return on equity of 10.35% and a net margin of 4.30%. The business earned $838.60 million during the quarter, compared to analysts’ expectations of $857.88 million. During the same period in the previous year, the business earned $1.53 EPS. The business’s revenue was down 11.0% compared to the same quarter last year. On average, equities research analysts anticipate that Regal Beloit Corp. will post $4.39 earnings per share for the current fiscal year.
The business 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 dividend on an annualized basis and a dividend yield of 1.57%. Regal Beloit Corp.’s payout ratio is currently 30.28%.
In other news, VP Terry R. Colvin sold 1,615 shares of Regal Beloit Corp. 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 transaction, the vice president now directly owns 21,146 shares of the company’s stock, valued at approximately $1,320,990.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 worth $105,000 after buying an additional 1,775 shares during the last quarter. LS Investment Advisors LLC increased its stake 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 acquired a new stake in shares of Regal Beloit Corp. during the first quarter valued at about $196,000. American Financial Group Inc. acquired a new stake in shares of Regal Beloit Corp. during the first quarter valued at about $200,000. Finally, Cutler Group LP increased its stake 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 currently owned by hedge funds and other institutional investors.
About Regal Beloit Corp.
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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