Texas Permanent School Fund reduced its stake in shares of Regal Beloit Corp (NYSE:RBC) by 8.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 29,948 shares of the industrial products company’s stock after selling 2,610 shares during the period. Texas Permanent School Fund’s holdings in Regal Beloit were worth $2,294,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Pinebridge Investments L.P. purchased a new stake in shares of Regal Beloit during the 3rd quarter valued at about $204,000. State of Alaska Department of Revenue purchased a new stake in shares of Regal Beloit during the 4th quarter valued at about $199,000. M&T Bank Corp purchased a new stake in shares of Regal Beloit during the 2nd quarter valued at about $237,000. Magnetar Financial LLC purchased a new stake in shares of Regal Beloit during the 3rd quarter valued at about $246,000. Finally, Regentatlantic Capital LLC purchased a new stake in shares of Regal Beloit during the 4th quarter valued at about $241,000. Institutional investors and hedge funds own 94.04% of the company’s stock.
RBC has been the topic of several analyst reports. Royal Bank of Canada reiterated a “buy” rating and set a $90.00 target price on shares of Regal Beloit in a report on Tuesday, November 28th. Zacks Investment Research upgraded Regal Beloit from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Tuesday, January 2nd. ValuEngine lowered Regal Beloit from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, BMO Capital Markets lowered their price objective on Regal Beloit from $88.00 to $85.00 and set a “market perform” rating for the company in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $86.56.
Shares of Regal Beloit Corp (RBC) opened at $72.00 on Tuesday. Regal Beloit Corp has a 12 month low of $71.05 and a 12 month high of $87.50. The company has a current ratio of 2.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $3,411.41, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 1.31 and a beta of 1.44.
Regal Beloit (NYSE:RBC) last issued its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.01. Regal Beloit had a return on equity of 9.76% and a net margin of 6.28%. The firm had revenue of $820.70 million during the quarter, compared to analyst estimates of $794.65 million. During the same quarter last year, the firm earned $1.04 EPS. Regal Beloit’s quarterly revenue was up 8.3% on a year-over-year basis. equities research analysts forecast that Regal Beloit Corp will post 4.87 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 29th will be given a $0.26 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.44%. Regal Beloit’s payout ratio is 22.61%.
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.
Want to see what other hedge funds are holding RBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regal Beloit Corp (NYSE:RBC).
Receive News & Ratings for Regal Beloit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Beloit and related companies with MarketBeat.com's FREE daily email newsletter.