Royal Bank of Canada reaffirmed their hold rating on shares of Regal Beloit (NYSE:RBC) in a research note published on Tuesday morning, AnalystRatings.com reports.
Several other research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Regal Beloit from a sell rating to a hold rating in a report on Monday, May 6th. Wells Fargo & Co raised their target price on shares of Regal Beloit from $75.00 to $85.00 and gave the stock a market perform rating in a report on Wednesday, February 6th. Finally, CIBC reaffirmed a market perform rating on shares of Regal Beloit in a report on Tuesday, January 8th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $92.50.
Shares of RBC opened at $80.34 on Tuesday. Regal Beloit has a 12 month low of $66.04 and a 12 month high of $87.31. The company has a market cap of $3.49 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.28 and a beta of 1.54. The company has a current ratio of 2.71, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50.
Regal Beloit (NYSE:RBC) last announced its earnings results on Monday, May 6th. The industrial products company reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.02. Regal Beloit had a net margin of 7.15% and a return on equity of 11.24%. The company had revenue of $853.80 million for the quarter, compared to analysts’ expectations of $882.61 million. During the same period last year, the firm earned $1.34 earnings per share. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts predict that Regal Beloit will post 6.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. This is a boost from Regal Beloit’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, June 27th. Regal Beloit’s dividend payout ratio (DPR) is 18.67%.
In related news, Director Henry W. Knueppel sold 5,742 shares of Regal Beloit stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $84.02, for a total value of $482,442.84. Following the transaction, the director now directly owns 5,466 shares of the company’s stock, valued at $459,253.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Joseph Gliebe sold 13,191 shares of Regal Beloit stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $83.23, for a total transaction of $1,097,886.93. Following the completion of the transaction, the chief executive officer now directly owns 259,220 shares in the company, valued at $21,574,880.60. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Large investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its position in Regal Beloit by 20.2% in the third quarter. AQR Capital Management LLC now owns 70,208 shares of the industrial products company’s stock valued at $5,788,000 after buying an additional 11,810 shares in the last quarter. Morgan Stanley boosted its position in Regal Beloit by 120.9% in the third quarter. Morgan Stanley now owns 226,691 shares of the industrial products company’s stock valued at $18,691,000 after buying an additional 124,057 shares in the last quarter. Vanguard Group Inc. boosted its position in Regal Beloit by 0.8% in the third quarter. Vanguard Group Inc. now owns 4,181,428 shares of the industrial products company’s stock valued at $344,758,000 after buying an additional 33,214 shares in the last quarter. Prentiss Smith & Co. Inc. boosted its position in Regal Beloit by 19.1% in the fourth quarter. Prentiss Smith & Co. Inc. now owns 67,169 shares of the industrial products company’s stock valued at $4,705,000 after buying an additional 10,757 shares in the last quarter. Finally, Virtu Financial LLC boosted its position in Regal Beloit by 24.9% in the fourth quarter. Virtu Financial LLC now owns 3,233 shares of the industrial products company’s stock valued at $226,000 after buying an additional 644 shares in the last quarter. 93.58% of the stock is currently owned by institutional investors and hedge funds.
Regal Beloit Company Profile
Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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