Regal Beloit Corporation (RBC) Declares Quarterly Dividend of $0.26
Regal Beloit Corporation (NYSE:RBC) announced a quarterly dividend on Wednesday, July 26th, RTT News reports. Investors of record on Friday, September 29th will be given a dividend of 0.26 per share by the industrial products company on Friday, October 13th. This represents a $1.04 annualized dividend and a yield of 1.23%.
Regal Beloit Corporation has increased its dividend by an average of 6.4% annually over the last three years and has raised its dividend every year for the last 7 years. Regal Beloit Corporation has a dividend payout ratio of 21.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Regal Beloit Corporation to earn $5.31 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 19.6%.
Regal Beloit Corporation (NYSE RBC) traded down 1.63% during midday trading on Wednesday, reaching $84.40. 238,094 shares of the company traded hands. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 18.31 and a beta of 1.52. The firm has a 50-day moving average price of $82.11 and a 200-day moving average price of $77.12. Regal Beloit Corporation has a one year low of $56.45 and a one year high of $87.50.
Regal Beloit Corporation (NYSE:RBC) last posted its earnings results on Monday, May 8th. The industrial products company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.12. The business had revenue of $813.50 million during the quarter, compared to analyst estimates of $807.40 million. Regal Beloit Corporation had a return on equity of 9.80% and a net margin of 6.46%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 EPS. Equities analysts predict that Regal Beloit Corporation will post $4.86 EPS for the current fiscal year.
In related news, Director Henry W. Knueppel sold 20,000 shares of the business’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 owns 3,726 shares in the company, valued at approximately $316,710. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry W. Knueppel sold 10,800 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $80.03, for a total value of $864,324.00. Following the completion of the sale, the director now owns 4,326 shares of the company’s stock, valued at approximately $346,209.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,463 shares of company stock valued at $3,677,364. Corporate insiders own 2.20% of the company’s stock.
A number of research firms have weighed in on RBC. BidaskClub lowered Regal Beloit Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus reaffirmed a “hold” rating and set a $85.00 target price on shares of Regal Beloit Corporation in a report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $80.00 target price on shares of Regal Beloit Corporation in a report on Friday, July 14th. Wolfe Research began coverage on Regal Beloit Corporation in a report on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $88.00 target price on shares of Regal Beloit Corporation in a report on Thursday, June 29th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Regal Beloit Corporation has a consensus rating of “Hold” and an average price target of $80.57.
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.
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