Victory Capital Management Inc. reduced its position in Regal Beloit Corporation (NYSE:RBC) by 55.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 274,340 shares of the industrial products company’s stock after selling 336,579 shares during the period. Victory Capital Management Inc. owned about 0.61% of Regal Beloit Corporation worth $22,372,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Regal Beloit Corporation by 12,739.2% in the first quarter. BlackRock Inc. now owns 4,042,162 shares of the industrial products company’s stock worth $305,789,000 after buying an additional 4,010,679 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Regal Beloit Corporation by 49.5% in the first quarter. Bank of New York Mellon Corp now owns 791,521 shares of the industrial products company’s stock worth $59,878,000 after buying an additional 262,168 shares during the last quarter. Vanguard Group Inc. increased its stake in Regal Beloit Corporation by 6.8% in the first quarter. Vanguard Group Inc. now owns 3,992,141 shares of the industrial products company’s stock worth $302,006,000 after buying an additional 253,058 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Regal Beloit Corporation by 10.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,519,036 shares of the industrial products company’s stock worth $190,565,000 after buying an additional 233,454 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Regal Beloit Corporation by 19.1% in the first quarter. Alliancebernstein L.P. now owns 1,438,609 shares of the industrial products company’s stock worth $108,831,000 after buying an additional 231,211 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Shares of Regal Beloit Corporation (NYSE:RBC) opened at 75.40 on Friday. Regal Beloit Corporation has a 12 month low of $56.45 and a 12 month high of $87.50. The company has a market cap of $3.36 billion, a P/E ratio of 16.64 and a beta of 1.53. The firm has a 50-day moving average price of $80.26 and a 200 day moving average price of $78.60.

Regal Beloit Corporation (NYSE:RBC) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. The business had revenue of $869.20 million during the quarter, compared to analyst estimates of $854.66 million. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the company earned $1.14 EPS. Equities analysts predict that Regal Beloit Corporation will post $4.86 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, September 28th. Regal Beloit Corporation’s payout ratio is 22.96%.

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RBC has been the subject of a number of recent research reports. CIBC upgraded Regal Beloit Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, May 15th. Credit Suisse Group restated a “buy” rating and issued a $88.00 target price on shares of Regal Beloit Corporation in a research report on Thursday, June 29th. Wolfe Research initiated coverage on Regal Beloit Corporation in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. ValuEngine upgraded Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Regal Beloit Corporation currently has a consensus rating of “Hold” and an average target price of $83.00.

In other news, Director Henry W. Knueppel sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total value of $1,700,000.00. Following the completion of the sale, the director now directly owns 3,726 shares of the company’s stock, valued at approximately $316,710. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by company insiders.

Regal Beloit Corporation Company Profile

Regal Beloit Corporation is a manufacturer of electric motors, electrical motion controls, power generation and power transmission products. The Company operates through three segments: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, open gearing and specialty mechanical products which control motion and torque.

Institutional Ownership by Quarter for Regal Beloit Corporation (NYSE:RBC)

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