IndexIQ Advisors LLC bought a new position in shares of Regal Beloit Corp (NYSE:RBC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,055 shares of the industrial products company’s stock, valued at approximately $192,000.
Several other large investors have also added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Regal Beloit by 2.0% in the fourth quarter. FMR LLC now owns 3,623,064 shares of the industrial products company’s stock valued at $310,170,000 after purchasing an additional 69,979 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Regal Beloit by 9.7% in the 4th quarter. AQR Capital Management LLC now owns 1,161,305 shares of the industrial products company’s stock valued at $99,419,000 after purchasing an additional 102,662 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Regal Beloit by 1.5% during the 4th quarter. Alliancebernstein L.P. now owns 1,002,105 shares of the industrial products company’s stock valued at $85,790,000 after buying an additional 14,993 shares during the last quarter. Bank of Montreal Can grew its position in shares of Regal Beloit by 2.3% during the fourth quarter. Bank of Montreal Can now owns 658,377 shares of the industrial products company’s stock worth $56,365,000 after buying an additional 15,067 shares in the last quarter. Finally, Norges Bank acquired a new stake in Regal Beloit in the fourth quarter valued at $54,180,000. Institutional investors and hedge funds own 91.41% of the company’s stock.
Regal Beloit stock opened at $77.14 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.03 and a current ratio of 3.16. Regal Beloit Corp has a one year low of $51.99 and a one year high of $90.18. The company has a 50-day simple moving average of $68.40 and a 200-day simple moving average of $77.57. The firm has a market capitalization of $3.13 billion, a P/E ratio of 14.21, a P/E/G ratio of 2.09 and a beta of 1.39.
Regal Beloit (NYSE:RBC) last posted its earnings results on Monday, May 4th. The industrial products company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.09 by $0.22. The firm had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $746.41 million. Regal Beloit had a net margin of 6.38% and a return on equity of 9.49%. Regal Beloit’s quarterly revenue was down 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 EPS. As a group, sell-side analysts forecast that Regal Beloit Corp will post 3.69 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.56%. The ex-dividend date is Thursday, June 25th. Regal Beloit’s payout ratio is currently 21.86%.
Several equities research analysts have recently weighed in on RBC shares. KeyCorp raised shares of Regal Beloit from a “sector weight” rating to an “overweight” rating and set a $82.00 target price for the company in a research report on Thursday, May 14th. Zacks Investment Research downgraded Regal Beloit from a “hold” rating to a “sell” rating and set a $76.00 target price on the stock. in a report on Thursday, May 7th. Royal Bank of Canada reiterated a “hold” rating on shares of Regal Beloit in a report on Tuesday, March 3rd. Robert W. Baird raised their price objective on Regal Beloit from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, Stephens boosted their target price on shares of Regal Beloit from $88.00 to $91.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $81.29.
About Regal Beloit
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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