Regal Beloit Corporation (RBC) Stake Increased by Teachers Advisors LLC

Teachers Advisors LLC grew its stake in Regal Beloit Corporation (NYSE:RBC) by 44.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,445 shares of the industrial products company’s stock after acquiring an additional 23,880 shares during the quarter. Teachers Advisors LLC owned 0.17% of Regal Beloit Corporation worth $6,316,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in RBC. Russell Investments Group Ltd. increased its stake in shares of Regal Beloit Corporation by 13.4% in the 1st quarter. Russell Investments Group Ltd. now owns 8,501 shares of the industrial products company’s stock valued at $645,000 after acquiring an additional 1,004 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of Regal Beloit Corporation in the 1st quarter valued at about $1,055,000. Ameriprise Financial Inc. increased its stake in shares of Regal Beloit Corporation by 5.4% in the 1st quarter. Ameriprise Financial Inc. now owns 179,807 shares of the industrial products company’s stock valued at $13,603,000 after acquiring an additional 9,211 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Regal Beloit Corporation by 5.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,514 shares of the industrial products company’s stock valued at $191,000 after acquiring an additional 134 shares during the last quarter. Finally, Credit Agricole S A increased its stake in shares of Regal Beloit Corporation by 1,918.8% in the 1st quarter. Credit Agricole S A now owns 6,642 shares of the industrial products company’s stock valued at $502,000 after acquiring an additional 6,313 shares during the last quarter. 92.14% of the stock is owned by institutional investors.

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A number of analysts have recently commented on the company. Robert W. Baird reaffirmed a “buy” rating and issued a $88.00 price target on shares of Regal Beloit Corporation in a research note on Wednesday, October 4th. Morgan Stanley boosted their price objective on Regal Beloit Corporation from $82.00 to $87.00 and gave the company an “equal weight” rating in a research report on Monday, October 2nd. BidaskClub lowered Regal Beloit Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Stifel Nicolaus reiterated a “hold” rating and issued a $85.00 price objective on shares of Regal Beloit Corporation in a research report on Tuesday, August 22nd. Finally, Zacks Investment Research lowered Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Regal Beloit Corporation has a consensus rating of “Hold” and an average price target of $86.33.

Regal Beloit Corporation (NYSE:RBC) opened at 78.55 on Monday. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 17.34 and a beta of 1.53. The company has a 50 day moving average price of $76.99 and a 200 day moving average price of $79.11. Regal Beloit Corporation has a 12 month low of $56.45 and a 12 month high of $87.50.

Regal Beloit Corporation (NYSE:RBC) last issued its earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.01. The business had revenue of $869.20 million during the quarter, compared to the consensus estimate of $854.66 million. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 earnings per share. Analysts anticipate that Regal Beloit Corporation will post $4.86 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.04 dividend on an annualized basis and a yield of 1.32%. Regal Beloit Corporation’s payout ratio is currently 22.96%.

In other Regal Beloit Corporation news, Director Henry W. Knueppel sold 20,000 shares of Regal Beloit Corporation stock in a transaction that occurred on 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 directly owns 3,726 shares in the company, valued at $316,710. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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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