Regal Beloit Corporation (NYSE:RBC) Given “Buy” Rating at Robert W. Baird

Robert W. Baird reiterated their buy rating on shares of Regal Beloit Corporation (NYSE:RBC) in a report released on Wednesday, October 4th. They currently have a $88.00 target price on the industrial products company’s stock.

RBC has been the subject of several other reports. Morgan Stanley upped their price objective on shares of Regal Beloit Corporation from $82.00 to $87.00 and gave the company an equal weight rating in a research note on Monday, October 2nd. BidaskClub downgraded shares of Regal Beloit Corporation from a buy rating to a hold rating in a research note on Thursday, June 22nd. Zacks Investment Research downgraded shares of Regal Beloit Corporation from a buy rating to a hold rating in a research note on Thursday, August 10th. Stifel Nicolaus reissued a hold rating and issued a $85.00 price target on shares of Regal Beloit Corporation in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC reissued a hold rating and issued a $80.00 price target on shares of Regal Beloit Corporation in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $86.33.

Shares of Regal Beloit Corporation (RBC) opened at 79.60 on Wednesday. The company has a market cap of $3.55 billion, a P/E ratio of 17.57 and a beta of 1.53. The stock’s 50 day moving average price is $77.67 and its 200-day moving average price is $79.40. Regal Beloit Corporation has a 52-week low of $56.45 and a 52-week high of $87.50.

Regal Beloit Corporation (NYSE:RBC) last posted its quarterly earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 6.29% and a return on equity of 9.88%. The company’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share. Equities analysts expect that Regal Beloit Corporation will post $4.86 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, September 28th. Regal Beloit Corporation’s payout ratio is 22.96%.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Regal Beloit Corporation by 1.2% during the second quarter. BlackRock Inc. now owns 4,089,676 shares of the industrial products company’s stock valued at $333,515,000 after buying an additional 47,514 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Regal Beloit Corporation by 1.4% during the second quarter. Vanguard Group Inc. now owns 4,046,576 shares of the industrial products company’s stock valued at $329,998,000 after buying an additional 54,435 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Regal Beloit Corporation by 10.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,519,036 shares of the industrial products company’s stock worth $190,565,000 after purchasing an additional 233,454 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Regal Beloit Corporation by 2.7% in the second quarter. JPMorgan Chase & Co. now owns 1,700,222 shares of the industrial products company’s stock worth $138,652,000 after purchasing an additional 43,968 shares during the last quarter. Finally, State Street Corp boosted its holdings in Regal Beloit Corporation by 2.2% in the second quarter. State Street Corp now owns 1,163,293 shares of the industrial products company’s stock worth $94,869,000 after purchasing an additional 24,844 shares during the last quarter. Hedge funds and other institutional investors own 92.13% 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.

Analyst Recommendations for Regal Beloit Corporation (NYSE:RBC)

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