BlackRock Inc. Increases Position in Regal Beloit Corporation (NYSE:RBC)

BlackRock Inc. raised its stake in Regal Beloit Corporation (NYSE:RBC) by 12,739.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,042,162 shares of the industrial products company’s stock after buying an additional 4,010,679 shares during the period. BlackRock Inc. owned approximately 9.02% of Regal Beloit Corporation worth $305,789,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its stake in Regal Beloit Corporation by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the industrial products company’s stock valued at $855,000 after buying an additional 200 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of Regal Beloit Corporation by 10.4% in the first quarter. Capstone Asset Management Co. now owns 6,476 shares of the industrial products company’s stock valued at $490,000 after buying an additional 610 shares during the period. Foundry Partners LLC increased its position in shares of Regal Beloit Corporation by 16.1% in the first quarter. Foundry Partners LLC now owns 171,894 shares of the industrial products company’s stock valued at $13,004,000 after buying an additional 23,900 shares during the period. Teachers Advisors LLC increased its position in shares of Regal Beloit Corporation by 9.6% in the fourth quarter. Teachers Advisors LLC now owns 47,072 shares of the industrial products company’s stock valued at $3,260,000 after buying an additional 4,114 shares during the period. Finally, Norges Bank bought a new position in Regal Beloit Corporation during the fourth quarter worth approximately $41,221,000. 93.68% of the stock is owned by institutional investors.

Shares of Regal Beloit Corporation (NYSE RBC) traded up 2.12% during trading on Wednesday, reaching $86.60. 278,613 shares of the company traded hands. The stock has a market cap of $3.88 billion, a P/E ratio of 18.79 and a beta of 1.52. The stock’s 50 day moving average price is $81.89 and its 200-day moving average price is $77.05. Regal Beloit Corporation has a 12 month low of $56.45 and a 12 month high of $86.70.

Regal Beloit Corporation (NYSE:RBC) last released its quarterly earnings data on Monday, May 8th. The industrial products company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.12. The firm had revenue of $813.50 million during the quarter, compared to the consensus estimate of $807.40 million. Regal Beloit Corporation had a return on equity of 9.80% and a net margin of 6.46%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.95 earnings per share. On average, equities research analysts expect that Regal Beloit Corporation will post $4.86 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a dividend of $0.26 per share. This is an increase from Regal Beloit Corporation’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, June 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.20%. Regal Beloit Corporation’s payout ratio is currently 22.56%.

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A number of analysts have weighed in on RBC shares. BidaskClub raised shares of Regal Beloit Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Credit Suisse Group reaffirmed a “buy” rating and issued a $88.00 price objective on shares of Regal Beloit Corporation in a report on Thursday, June 29th. ValuEngine raised shares of Regal Beloit Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of Regal Beloit Corporation from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research note on Tuesday, April 11th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $73.00 target price on shares of Regal Beloit Corporation in a research note on Tuesday, April 18th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $80.57.

In related news, Director Henry W. Knueppel sold 10,800 shares of Regal Beloit Corporation stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $80.03, for a total transaction of $864,324.00. Following the transaction, the director now owns 4,326 shares of the company’s stock, valued at $346,209.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Henry W. Knueppel sold 20,000 shares of Regal Beloit Corporation stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $85.00, for a total value of $1,700,000.00. Following the transaction, the director now directly owns 3,726 shares in the company, valued at approximately $316,710. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,463 shares of company stock valued at $3,677,364. Corporate insiders own 2.20% of the company’s stock.

Regal Beloit Corporation 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.

Institutional Ownership by Quarter for Regal Beloit Corporation (NYSE:RBC)

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