John Avampato Sells 626 Shares of Regal Beloit Corp. (RBC) Stock
Regal Beloit Corp. (NYSE:RBC) VP John Avampato sold 626 shares of Regal Beloit Corp. stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $69.26, for a total value of $43,356.76. Following the sale, the vice president now directly owns 13,097 shares in the company, valued at $907,098.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Regal Beloit Corp. (NYSE:RBC) traded down 0.58% during trading on Wednesday, hitting $69.05. The stock had a trading volume of 347,959 shares. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 22.44 and a beta of 1.53. Regal Beloit Corp. has a one year low of $47.77 and a one year high of $69.65. The stock’s 50-day moving average price is $59.94 and its 200 day moving average price is $59.50.
Regal Beloit Corp. (NYSE:RBC) last announced its quarterly earnings data on Monday, November 7th. The company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.06. The business earned $809.60 million during the quarter, compared to analyst estimates of $826.04 million. Regal Beloit Corp. had a net margin of 4.27% and a return on equity of 10.01%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.43 earnings per share. On average, equities analysts forecast that Regal Beloit Corp. will post $4.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Wednesday, December 28th. Regal Beloit Corp.’s dividend payout ratio is currently 31.17%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised 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 during the period. LS Investment Advisors LLC raised 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 during the period. Acrospire Investment Management LLC raised 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 during the period. Pacer Advisors Inc. acquired a new position in Regal Beloit Corp. during the second quarter valued at about $188,000. Finally, Genesee Valley Trust Co. raised its position in Regal Beloit Corp. by 3.0% in the second quarter. Genesee Valley Trust Co. now owns 3,733 shares of the company’s stock valued at $206,000 after buying an additional 107 shares during the period. 91.17% of the stock is owned by institutional investors and hedge funds.
RBC has been the topic of a number of analyst reports. Seaport Global Securities lowered Regal Beloit Corp. from an “accumulate” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $64.00 in a research report on Tuesday, September 27th. BMO Capital Markets downgraded Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $76.00 to $66.00 in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. KeyCorp reiterated a “hold” rating on shares of Regal Beloit Corp. in a research note on Monday, October 10th. Finally, TheStreet upgraded Regal Beloit Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. 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’s stock. The company currently has an average rating of “Hold” and an average target price of $63.50.
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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