Teachers Retirement System of The State of Kentucky cut its stake in shares of Regal Beloit Corp (NYSE:RBC) by 12.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,757 shares of the industrial products company’s stock after selling 1,200 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Regal Beloit were worth $722,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RBC. Dimensional Fund Advisors LP grew its holdings in shares of Regal Beloit by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,836,085 shares of the industrial products company’s stock valued at $231,990,000 after purchasing an additional 152,885 shares in the last quarter. LSV Asset Management lifted its stake in Regal Beloit by 15.9% in the third quarter. LSV Asset Management now owns 1,387,151 shares of the industrial products company’s stock worth $114,370,000 after acquiring an additional 190,206 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Regal Beloit by 8.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,382,986 shares of the industrial products company’s stock worth $114,027,000 after acquiring an additional 101,878 shares during the last quarter. Northern Trust Corp lifted its stake in Regal Beloit by 6.8% in the second quarter. Northern Trust Corp now owns 655,724 shares of the industrial products company’s stock worth $53,639,000 after acquiring an additional 42,033 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in Regal Beloit by 5.8% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 345,342 shares of the industrial products company’s stock worth $28,473,000 after acquiring an additional 18,835 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Shares of NYSE:RBC opened at $75.34 on Wednesday. The company has a market cap of $3.37 billion, a PE ratio of 15.47, a P/E/G ratio of 1.33 and a beta of 1.54. The company has a quick ratio of 1.42, a current ratio of 2.61 and a debt-to-equity ratio of 0.54. Regal Beloit Corp has a twelve month low of $67.84 and a twelve month high of $86.75.

Regal Beloit (NYSE:RBC) last issued its quarterly earnings data on Monday, November 5th. The industrial products company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.06. The business had revenue of $925.40 million during the quarter, compared to the consensus estimate of $924.18 million. Regal Beloit had a net margin of 6.34% and a return on equity of 10.73%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 EPS. On average, equities research analysts forecast that Regal Beloit Corp will post 5.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Friday, December 28th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.49%. Regal Beloit’s payout ratio is 23.00%.

A number of brokerages recently issued reports on RBC. Zacks Investment Research downgraded shares of Regal Beloit from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. BMO Capital Markets decreased their price target on shares of Regal Beloit to $83.00 and set a “market perform” rating for the company in a research note on Wednesday, November 7th. Goldman Sachs Group started coverage on shares of Regal Beloit in a research note on Wednesday, October 3rd. They issued a “buy” rating and a $95.00 price target for the company. Finally, Royal Bank of Canada restated a “buy” rating and set a $90.00 price objective (down previously from $95.00) on shares of Regal Beloit in a research report on Monday, November 5th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Regal Beloit presently has an average rating of “Buy” and a consensus price target of $89.13.

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Regal Beloit Profile

Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and power transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.

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Institutional Ownership by Quarter for Regal Beloit (NYSE:RBC)

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