Fifth Third Bancorp maintained its position in shares of Regal Beloit Corporation (NYSE:RBC) during the fourth quarter, Holdings Channel reports. The fund owned 17,931 shares of the company’s stock at the end of the fourth quarter. Fifth Third Bancorp’s holdings in Regal Beloit Corporation were worth $1,067,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. LS Investment Advisors LLC boosted its position in shares of Regal Beloit Corporation by 7.0% in the third quarter. LS Investment Advisors LLC now owns 2,922 shares of the company’s stock worth $174,000 after buying an additional 192 shares in the last quarter. First Mercantile Trust Co. purchased a new position in shares of Regal Beloit Corporation during the third quarter worth approximately $209,000. Genesee Valley Trust Co. boosted its position in shares of Regal Beloit Corporation by 4.7% in the third quarter. Genesee Valley Trust Co. now owns 3,908 shares of the company’s stock worth $232,000 after buying an additional 175 shares in the last quarter. Eqis Capital Management Inc. purchased a new position in shares of Regal Beloit Corporation during the third quarter worth approximately $235,000. Finally, MAI Capital Management purchased a new position in shares of Regal Beloit Corporation during the third quarter worth approximately $236,000. 88.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Regal Beloit Corporation (NYSE:RBC) opened at 74.10 on Friday. Regal Beloit Corporation has a one year low of $51.57 and a one year high of $77.20. The stock has a market cap of $3.32 billion, a PE ratio of 16.39 and a beta of 1.58. The company’s 50-day moving average price is $72.50 and its 200-day moving average price is $65.92.
Regal Beloit Corporation (NYSE:RBC) last issued its quarterly earnings results on Monday, February 6th. The company reported $1.04 EPS for the quarter, meeting analysts’ consensus estimates of $1.04. Regal Beloit Corporation had a return on equity of 9.67% and a net margin of 6.31%. The firm had revenue of $758.10 million for the quarter, compared to analysts’ expectations of $755.50 million. During the same quarter in the prior year, the firm earned $1.17 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts anticipate that Regal Beloit Corporation will post $4.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Friday, March 31st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.30%. Regal Beloit Corporation’s dividend payout ratio (DPR) is 21.24%.
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A number of research analysts have recently commented on RBC shares. BMO Capital Markets reaffirmed a “hold” rating on shares of Regal Beloit Corporation in a research report on Tuesday, November 8th. Zacks Investment Research raised Regal Beloit Corporation from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Stifel Nicolaus upped their price target on Regal Beloit Corporation from $76.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, February 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $66.13.
In related news, Director Henry W. Knueppel sold 25,000 shares of the stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $75.05, for a total transaction of $1,876,250.00. Following the sale, the director now owns 2,777 shares of the company’s stock, valued at approximately $208,413.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.
Regal Beloit Corporation Company Profile
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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