Massachusetts Financial Services Co. MA lifted its position in shares of Regal Beloit Corp (NYSE:RBC) by 8.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,382,986 shares of the industrial products company’s stock after purchasing an additional 101,878 shares during the period. Massachusetts Financial Services Co. MA owned 3.18% of Regal Beloit worth $114,027,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Oakbrook Investments LLC bought a new stake in shares of Regal Beloit during the 3rd quarter worth approximately $445,000. Aperio Group LLC lifted its holdings in shares of Regal Beloit by 3.8% during the 3rd quarter. Aperio Group LLC now owns 19,846 shares of the industrial products company’s stock worth $1,636,000 after acquiring an additional 732 shares during the period. First Hawaiian Bank bought a new stake in shares of Regal Beloit during the 3rd quarter worth approximately $169,000. Northern Trust Corp lifted its holdings in shares of Regal Beloit by 6.8% during the 2nd 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 period. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Regal Beloit by 6.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 79,002 shares of the industrial products company’s stock worth $6,462,000 after acquiring an additional 4,867 shares during the period. Institutional investors own 92.50% of the company’s stock.
RBC has been the subject of a number of recent analyst reports. Goldman Sachs Group initiated coverage on shares of Regal Beloit in a report on Wednesday, October 3rd. They set a “buy” rating and a $95.00 price target for the company. BMO Capital Markets cut their price target on shares of Regal Beloit to $83.00 and set a “market perform” rating for the company in a report on Wednesday, November 7th. Zacks Investment Research raised shares of Regal Beloit from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Wednesday, August 8th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $90.00 price target (down previously from $95.00) on shares of Regal Beloit in a report on Monday, November 5th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $89.13.
NYSE:RBC traded up $1.28 on Thursday, hitting $76.71. The company had a trading volume of 185,930 shares, compared to its average volume of 280,329. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.61 and a quick ratio of 1.42. Regal Beloit Corp has a 52 week low of $67.84 and a 52 week 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 EPS for the quarter, beating the Thomson Reuters’ 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 firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 EPS. As a group, analysts expect that Regal Beloit Corp will post 5.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Friday, December 28th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, December 27th. Regal Beloit’s payout ratio is 23.00%.
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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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