Regal Beloit Corporation (RBC) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Regal Beloit Corporation (NYSE:RBC) have been assigned a consensus rating of “Hold” from the twelve brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $81.40.
Several equities analysts have recently issued reports on the company. BidaskClub cut Regal Beloit Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Zacks Investment Research cut Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Stifel Nicolaus reiterated a “hold” rating and issued a $85.00 price objective on shares of Regal Beloit Corporation in a research note on Wednesday, July 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $80.00 price objective on shares of Regal Beloit Corporation in a research note on Friday, July 14th. Finally, Wolfe Research began coverage on Regal Beloit Corporation in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock.
Regal Beloit Corporation (NYSE RBC) traded down 0.46% during mid-day trading on Friday, hitting $76.05. The company had a trading volume of 317,824 shares. The company has a 50-day moving average price of $82.65 and a 200 day moving average price of $78.55. The company has a market capitalization of $3.39 billion, a P/E ratio of 16.79 and a beta of 1.52. Regal Beloit Corporation has a 52-week low of $56.45 and a 52-week high of $87.50.
Regal Beloit Corporation (NYSE:RBC) last announced 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 analysts’ expectations of $854.66 million. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS. On average, analysts forecast that Regal Beloit Corporation will post $4.86 EPS for the current fiscal year.
The firm 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 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, September 28th. Regal Beloit Corporation’s dividend payout ratio (DPR) is presently 22.96%.
In other news, Director Henry W. Knueppel sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $82.00, for a total transaction of $820,000.00. Following the sale, the director now owns 3,726 shares of the company’s stock, valued at approximately $305,532. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Henry W. Knueppel sold 3,663 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $80.00, for a total value of $293,040.00. The disclosure for this sale can be found here. Insiders have sold a total of 33,663 shares of company stock worth $2,813,040 in the last three months. Corporate insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tyers Asset Management LLC raised its position in Regal Beloit Corporation by 47.7% in the first quarter. Tyers Asset Management LLC now owns 2,080 shares of the industrial products company’s stock valued at $157,000 after buying an additional 672 shares during the period. Envestnet Asset Management Inc. raised its position in Regal Beloit Corporation by 5.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,514 shares of the industrial products company’s stock valued at $191,000 after buying an additional 134 shares during the period. World Asset Management Inc purchased a new position in Regal Beloit Corporation during the first quarter valued at approximately $207,000. Synovus Financial Corp raised its position in Regal Beloit Corporation by 4.4% in the second quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock valued at $209,000 after buying an additional 110 shares during the period. Finally, Elkfork Partners LLC raised its position in Regal Beloit Corporation by 47.7% in the first quarter. Elkfork Partners LLC now owns 2,860 shares of the industrial products company’s stock valued at $216,000 after buying an additional 924 shares during the period. 93.32% of the stock is currently owned by institutional investors.
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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