LSV Asset Management lifted its stake in shares of Regal Beloit Corp (NYSE:RBC) by 133.6% during the fourth quarter, HoldingsChannel reports. The firm owned 543,660 shares of the industrial products company’s stock after acquiring an additional 310,927 shares during the period. LSV Asset Management’s holdings in Regal Beloit were worth $41,644,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Regal Beloit by 1.4% in the second quarter. Vanguard Group Inc. now owns 4,046,576 shares of the industrial products company’s stock worth $329,998,000 after acquiring an additional 54,435 shares in the last quarter. Ameriprise Financial Inc. raised its position in Regal Beloit by 1.0% in the third quarter. Ameriprise Financial Inc. now owns 256,679 shares of the industrial products company’s stock worth $20,279,000 after acquiring an additional 2,447 shares in the last quarter. AXA raised its position in Regal Beloit by 7.6% in the third quarter. AXA now owns 110,400 shares of the industrial products company’s stock worth $8,722,000 after acquiring an additional 7,770 shares in the last quarter. Russell Investments Group Ltd. raised its position in Regal Beloit by 13.5% in the third quarter. Russell Investments Group Ltd. now owns 41,132 shares of the industrial products company’s stock worth $3,250,000 after acquiring an additional 4,894 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Regal Beloit by 28.3% in the third quarter. Wells Fargo & Company MN now owns 76,323 shares of the industrial products company’s stock worth $6,029,000 after acquiring an additional 16,858 shares in the last quarter. Hedge funds and other institutional investors own 94.04% of the company’s stock.
Shares of Regal Beloit Corp (NYSE RBC) opened at $72.00 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.22 and a current ratio of 2.22. The stock has a market capitalization of $3,411.41, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.31 and a beta of 1.44. Regal Beloit Corp has a twelve month low of $71.05 and a twelve month high of $87.50.
Regal Beloit (NYSE:RBC) last posted its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.01. The firm had revenue of $820.70 million for the quarter, compared to the consensus estimate of $794.65 million. Regal Beloit had a return on equity of 9.76% and a net margin of 6.28%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.04 EPS. equities analysts expect that Regal Beloit Corp will post 4.87 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.04 annualized dividend and a yield of 1.44%. Regal Beloit’s payout ratio is presently 22.61%.
Several equities research analysts have commented on the stock. BMO Capital Markets dropped their price target on shares of Regal Beloit from $88.00 to $85.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 7th. Royal Bank of Canada reiterated a “buy” rating on shares of Regal Beloit in a research report on Monday, November 6th. ValuEngine cut shares of Regal Beloit from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Finally, Zacks Investment Research cut shares of Regal Beloit from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $86.56.
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Regal Beloit Company Profile
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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