New York State Common Retirement Fund grew its position in Regal Beloit Corporation (NYSE:RBC) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,606 shares of the industrial products company’s stock after buying an additional 1,299 shares during the quarter. New York State Common Retirement Fund owned 0.26% of Regal Beloit Corporation worth $9,346,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in RBC. BlackRock Inc. increased its position in shares of 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 valued at $305,789,000 after buying an additional 4,010,679 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 valued at $302,006,000 after buying an additional 253,058 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 valued at $190,565,000 after buying an additional 233,454 shares in the last quarter. Kennedy Capital Management Inc. increased its position in shares of Regal Beloit Corporation by 94.7% in the second quarter. Kennedy Capital Management Inc. now owns 364,485 shares of the industrial products company’s stock valued at $29,724,000 after buying an additional 177,243 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Regal Beloit Corporation by 36.2% in the first quarter. Nuveen Asset Management LLC now owns 386,346 shares of the industrial products company’s stock valued at $29,227,000 after buying an additional 102,723 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

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A number of research analysts have recently weighed in on the company. BidaskClub cut Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Stifel Nicolaus restated a “hold” rating and issued a $85.00 price target on shares of Regal Beloit Corporation in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $80.00 price objective on shares of Regal Beloit Corporation in a research note on Friday, July 14th. Wolfe Research began coverage on Regal Beloit Corporation in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. Finally, Zacks Investment Research lowered Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $86.33.

In related news, Director Henry W. Knueppel sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total transaction of $1,700,000.00. Following the transaction, the director now directly owns 3,726 shares of the company’s stock, valued at $316,710. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by insiders.

Shares of Regal Beloit Corporation (NYSE RBC) opened at 78.55 on Monday. The company’s 50 day moving average price is $76.99 and its 200-day moving average price is $79.11. Regal Beloit Corporation has a 1-year low of $56.45 and a 1-year high of $87.50. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 17.34 and a beta of 1.53.

Regal Beloit Corporation (NYSE:RBC) last announced its earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $869.20 million for 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%. Regal Beloit Corporation’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 earnings per share. Equities analysts expect that Regal Beloit Corporation will post $4.86 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Thursday, September 28th. Regal Beloit Corporation’s dividend payout ratio (DPR) is presently 22.96%.

About Regal Beloit Corporation

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.

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

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