AXA grew its holdings in shares of Regal Beloit (NYSE:RBC) by 46.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 161,400 shares of the industrial products company’s stock after buying an additional 51,000 shares during the period. AXA owned 0.36% of Regal Beloit worth $12,364,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Regal Beloit by 4.3% during the fourth quarter. BlackRock Inc. now owns 4,243,407 shares of the industrial products company’s stock valued at $325,044,000 after buying an additional 173,534 shares during the period. Alliancebernstein L.P. grew its stake in Regal Beloit by 5.5% in the fourth quarter. Alliancebernstein L.P. now owns 1,311,995 shares of the industrial products company’s stock worth $100,499,000 after purchasing an additional 67,830 shares during the period. Fisher Asset Management LLC grew its stake in Regal Beloit by 9.8% in the fourth quarter. Fisher Asset Management LLC now owns 705,483 shares of the industrial products company’s stock worth $54,040,000 after purchasing an additional 63,157 shares during the period. Prudential Financial Inc. grew its stake in Regal Beloit by 11.4% in the third quarter. Prudential Financial Inc. now owns 630,849 shares of the industrial products company’s stock worth $49,837,000 after purchasing an additional 64,750 shares during the period. Finally, LSV Asset Management grew its stake in Regal Beloit by 133.6% in the fourth quarter. LSV Asset Management now owns 543,660 shares of the industrial products company’s stock worth $41,644,000 after purchasing an additional 310,927 shares during the period. 96.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:RBC traded down $2.85 during midday trading on Monday, reaching $70.50. 561,832 shares of the company’s stock traded hands, compared to its average volume of 340,805. The company has a market cap of $3,250.78, a P/E ratio of 15.06, a PEG ratio of 1.19 and a beta of 1.37. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.21 and a quick ratio of 1.15. Regal Beloit has a one year low of $67.84 and a one year high of $87.50.
Regal Beloit (NYSE:RBC) last announced its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 9.64% and a net margin of 6.34%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.04 earnings per share. sell-side analysts anticipate that Regal Beloit will post 5.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Wednesday, March 28th. Regal Beloit’s dividend payout ratio is 21.36%.
Several equities research analysts recently weighed in on RBC shares. ValuEngine raised Regal Beloit from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Zacks Investment Research raised Regal Beloit from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Tuesday, January 2nd. Seaport Global Securities raised Regal Beloit from a “neutral” rating to a “buy” rating and upped their price target for the stock from $82.00 to $88.00 in a research note on Wednesday, February 7th. Barrington Research reissued an “outperform” rating and issued a $87.00 target price on shares of Regal Beloit in a report on Monday, February 12th. Finally, Barclays started coverage on Regal Beloit in a report on Thursday, February 15th. They issued an “equal weight” rating and a $80.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $86.08.
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About Regal Beloit
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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