Regal Beloit Corporation (NYSE:RBC) Director Henry W. Knueppel sold 20,000 shares of the stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total value of $1,700,000.00. Following the completion of the sale, the director now owns 3,726 shares of the company’s stock, valued at $316,710. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Henry W. Knueppel also recently made the following trade(s):
- On Tuesday, May 23rd, Henry W. Knueppel sold 3,663 shares of Regal Beloit Corporation stock. The stock was sold at an average price of $80.00, for a total value of $293,040.00.
Shares of Regal Beloit Corporation (NYSE RBC) traded down 3.62% on Tuesday, reaching $81.30. The company had a trading volume of 399,304 shares. Regal Beloit Corporation has a 12 month low of $56.45 and a 12 month high of $87.50. The stock has a 50-day moving average price of $82.85 and a 200-day moving average price of $78.06. The stock has a market cap of $3.64 billion, a PE ratio of 17.64 and a beta of 1.52.
Regal Beloit Corporation (NYSE:RBC) last issued its earnings results on Monday, August 7th. The industrial products company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The business had revenue of $869.20 million during the quarter, compared to analyst estimates of $854.66 million. Regal Beloit Corporation had a return on equity of 9.80% and a net margin of 6.46%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 EPS. Analysts predict that Regal Beloit Corporation will post $4.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.04 dividend on an annualized basis and a yield of 1.28%. Regal Beloit Corporation’s dividend payout ratio (DPR) is currently 22.56%.
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Several research analysts have recently weighed in on RBC shares. Zacks Investment Research cut Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research report on Monday, June 5th. Jefferies Group LLC reaffirmed a “hold” rating and set a $73.00 price objective on shares of Regal Beloit Corporation in a research report on Tuesday, April 18th. Credit Suisse Group reaffirmed a “buy” rating and set a $88.00 price objective on shares of Regal Beloit Corporation in a research report on Thursday, June 29th. BidaskClub raised Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Finally, CIBC raised Regal Beloit Corporation from a “market perform” rating to an “outperform” rating in a research report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Regal Beloit Corporation presently has an average rating of “Hold” and a consensus target price of $83.00.
A number of institutional investors have recently added to or reduced their stakes in RBC. Russell Investments Group Ltd. bought a new position in Regal Beloit Corporation during the fourth quarter worth about $522,000. Renaissance Technologies LLC increased its position in Regal Beloit Corporation by 140.3% in the fourth quarter. Renaissance Technologies LLC now owns 62,000 shares of the industrial products company’s stock worth $4,294,000 after buying an additional 36,200 shares during the period. Envestnet Asset Management Inc. increased its position in Regal Beloit Corporation by 0.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,380 shares of the industrial products company’s stock worth $165,000 after buying an additional 11 shares during the period. GSA Capital Partners LLP bought a new position in Regal Beloit Corporation during the fourth quarter worth about $234,000. Finally, Guggenheim Capital LLC increased its position in Regal Beloit Corporation by 57.1% in the fourth quarter. Guggenheim Capital LLC now owns 34,208 shares of the industrial products company’s stock worth $2,369,000 after buying an additional 12,435 shares during the period. Institutional investors and hedge funds own 93.70% of the company’s stock.
About Regal Beloit Corporation
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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