Regal Beloit Corporation (RBC) Shares Bought by Rhumbline Advisers
Rhumbline Advisers raised its position in Regal Beloit Corporation (NYSE:RBC) by 4.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,381 shares of the company’s stock after buying an additional 3,270 shares during the period. Rhumbline Advisers owned approximately 0.16% of Regal Beloit Corporation worth $4,187,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. TIAA CREF Investment Management LLC increased its stake in Regal Beloit Corporation by 17.5% in the third quarter. TIAA CREF Investment Management LLC now owns 156,746 shares of the company’s stock worth $9,325,000 after buying an additional 23,335 shares during the period. Teachers Advisors LLC increased its stake in Regal Beloit Corporation by 3.6% in the third quarter. Teachers Advisors LLC now owns 42,958 shares of the company’s stock worth $2,556,000 after buying an additional 1,489 shares during the period. BlackRock Fund Advisors increased its stake in Regal Beloit Corporation by 4.7% in the third quarter. BlackRock Fund Advisors now owns 1,626,524 shares of the company’s stock worth $96,762,000 after buying an additional 73,340 shares during the period. BlackRock Inc. increased its stake in Regal Beloit Corporation by 5.0% in the third quarter. BlackRock Inc. now owns 31,250 shares of the company’s stock worth $1,859,000 after buying an additional 1,484 shares during the period. Finally, BlackRock Investment Management LLC increased its stake in Regal Beloit Corporation by 0.8% in the third quarter. BlackRock Investment Management LLC now owns 132,921 shares of the company’s stock worth $7,907,000 after buying an additional 1,040 shares during the period. 90.99% of the stock is owned by hedge funds and other institutional investors.
Regal Beloit Corporation (NYSE:RBC) traded up 1.26% during trading on Friday, hitting $72.30. The stock had a trading volume of 78,652 shares. The company’s 50-day moving average is $71.92 and its 200 day moving average is $63.29. The firm has a market cap of $3.24 billion, a PE ratio of 23.50 and a beta of 1.61. Regal Beloit Corporation has a 52 week low of $47.77 and a 52 week high of $75.60.
Regal Beloit Corporation (NYSE:RBC) last announced its quarterly earnings data on Monday, November 7th. The company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.06. Regal Beloit Corporation had a return on equity of 10.01% and a net margin of 4.27%. The firm earned $809.60 million during the quarter, compared to analyst estimates of $826.04 million. During the same period last year, the company posted $1.43 EPS. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. Equities analysts expect that Regal Beloit Corporation will post $4.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $0.96 dividend on an annualized basis and a yield of 1.34%. Regal Beloit Corporation’s payout ratio is presently 31.17%.
A number of research firms recently issued reports on RBC. BMO Capital Markets reissued a “hold” rating on shares of Regal Beloit Corporation in a research report on Tuesday, November 8th. KeyCorp reissued a “hold” rating on shares of Regal Beloit Corporation in a research report on Monday, October 10th. Seaport Global Securities downgraded shares of Regal Beloit Corporation from an “accumulate” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $64.00 in a research report on Tuesday, September 27th. Finally, Zacks Investment Research raised shares of Regal Beloit Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Regal Beloit Corporation currently has an average rating of “Hold” and a consensus price target of $63.50.
In other Regal Beloit Corporation news, VP John Avampato sold 626 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $69.26, for a total transaction of $43,356.76. Following the completion of the sale, the vice president now directly owns 13,097 shares in the company, valued at approximately $907,098.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.
About Regal Beloit Corporation
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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