REGAL-BELOIT CORPORATION Director Acquires $69,110 in Stock (RBC)
REGAL-BELOIT CORPORATION (NYSE:RBC) Director Jane L. Warner bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average price of $69.11 per share, with a total value of $69,110.00. Following the transaction, the director now directly owns 3,395 shares in the company, valued at approximately $234,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of REGAL-BELOIT CORPORATION (NYSE:RBC) traded up 0.91% on Thursday, hitting $70.67. 248,283 shares of the company’s stock traded hands. REGAL-BELOIT CORPORATION has a 52-week low of $62.93 and a 52-week high of $80.41. The stock has a 50-day moving average of $73.89 and a 200-day moving average of $74.45. The company has a market cap of $3.193 billion and a P/E ratio of 26.69.
REGAL-BELOIT CORPORATION (NYSE:RBC) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.27 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.28 by $0.01. The company had revenue of $850.40 million for the quarter, compared to the consensus estimate of $866.06 million. During the same quarter in the prior year, the company posted $1.13 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. Analysts expect that REGAL-BELOIT CORPORATION will post $4.40 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 8th. Stockholders of record on Wednesday, September 24th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Monday, September 22nd.
A number of analysts have recently weighed in on RBC shares. Analysts at Longbow Research downgraded shares of REGAL-BELOIT CORPORATION from a “buy” rating to a “neutral” rating in a research note on Wednesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of REGAL-BELOIT CORPORATION in a research note on Monday, August 4th. They now have a $74.00 price target on the stock. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of REGAL-BELOIT CORPORATION in a research note on Thursday, July 31st. They now have a $84.00 price target on the stock, down previously from $85.00. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $81.56.
Regal Beloit Corporation is a global manufacturer of electric motors and controls, electric generators and controls, and mechanical motion control products.
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