JPMorgan Chase & Co. Cuts Holdings in Regal Beloit Corporation (RBC)
JPMorgan Chase & Co. lowered its position in Regal Beloit Corporation (NYSE:RBC) by 13.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,467,991 shares of the industrial products company’s stock after selling 232,231 shares during the quarter. JPMorgan Chase & Co. owned approximately 3.31% of Regal Beloit worth $117,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of RBC. Synovus Financial Corp boosted its stake in shares of Regal Beloit by 4.4% during the second quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 110 shares during the period. Airain ltd purchased a new stake in shares of Regal Beloit during the second quarter valued at approximately $224,000. M&T Bank Corp purchased a new stake in shares of Regal Beloit during the second quarter valued at approximately $237,000. Bridgewater Associates LP purchased a new stake in shares of Regal Beloit during the second quarter valued at approximately $248,000. Finally, World Asset Management Inc boosted its stake in shares of Regal Beloit by 14.4% during the second quarter. World Asset Management Inc now owns 3,136 shares of the industrial products company’s stock valued at $256,000 after purchasing an additional 394 shares during the period. 93.84% of the stock is owned by institutional investors and hedge funds.
RBC has been the subject of a number of analyst reports. Stifel Nicolaus reissued a “hold” rating and set a $85.00 price objective on shares of Regal Beloit in a research note on Tuesday, August 22nd. BidaskClub lowered Regal Beloit from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Robert W. Baird reissued a “buy” rating and set a $88.00 price objective on shares of Regal Beloit in a research note on Wednesday, October 4th. ValuEngine lowered Regal Beloit from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Regal Beloit in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $86.63.
Shares of Regal Beloit Corporation (NYSE:RBC) traded down $0.70 during mid-day trading on Friday, reaching $76.25. The company had a trading volume of 307,974 shares, compared to its average volume of 262,322. Regal Beloit Corporation has a 12 month low of $68.30 and a 12 month high of $87.50. The stock has a market capitalization of $3,378.18, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.22 and a quick ratio of 1.22.
Regal Beloit (NYSE:RBC) last announced its quarterly earnings results on Monday, November 6th. The industrial products company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). Regal Beloit had a return on equity of 9.76% and a net margin of 6.28%. The business had revenue of $857.00 million during the quarter, compared to analysts’ expectations of $837.19 million. During the same period in the previous year, the business earned $1.31 EPS. The business’s revenue was up 5.9% compared to the same quarter last year. research analysts predict that Regal Beloit Corporation will post 4.88 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Thursday, December 28th. Regal Beloit’s payout ratio is 22.61%.
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About Regal Beloit
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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