Algert Global LLC decreased its stake in Regal Beloit Corp (NYSE:RBC) by 56.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,250 shares of the industrial products company’s stock after selling 5,600 shares during the quarter. Algert Global LLC’s holdings in Regal Beloit were worth $298,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in RBC. Dupont Capital Management Corp acquired a new position in shares of Regal Beloit during the fourth quarter worth about $232,000. State Board of Administration of Florida Retirement System boosted its position in shares of Regal Beloit by 2.4% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 53,584 shares of the industrial products company’s stock worth $3,754,000 after buying an additional 1,276 shares during the period. Rhumbline Advisers boosted its position in shares of Regal Beloit by 49.4% during the fourth quarter. Rhumbline Advisers now owns 111,354 shares of the industrial products company’s stock worth $7,800,000 after buying an additional 36,796 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Regal Beloit by 30.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,600 shares of the industrial products company’s stock worth $252,000 after buying an additional 831 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Regal Beloit by 0.3% during the fourth quarter. Fisher Asset Management LLC now owns 686,036 shares of the industrial products company’s stock worth $48,057,000 after buying an additional 2,121 shares during the period. 92.16% of the stock is currently owned by institutional investors and hedge funds.
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NYSE:RBC opened at $80.71 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.42 and a current ratio of 2.70. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.26 and a beta of 1.50. Regal Beloit Corp has a 12-month low of $66.04 and a 12-month high of $86.75.
Regal Beloit (NYSE:RBC) last released its quarterly earnings data on Monday, February 4th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.10. The firm had revenue of $881.70 million for the quarter, compared to analyst estimates of $864.76 million. Regal Beloit had a return on equity of 11.18% and a net margin of 6.34%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 earnings per share. Equities research analysts predict that Regal Beloit Corp will post 6.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 29th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.12 annualized dividend and a yield of 1.39%. Regal Beloit’s dividend payout ratio is 18.67%.
Several research analysts have recently weighed in on RBC shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $90.00 price objective (down from $95.00) on shares of Regal Beloit in a research report on Monday, November 5th. BMO Capital Markets reduced their price target on Regal Beloit to $83.00 and set a “market perform” rating for the company in a research report on Wednesday, November 7th. Wolfe Research cut Regal Beloit from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 8th. Oppenheimer cut Regal Beloit from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 8th. Finally, CIBC reissued a “market perform” rating on shares of Regal Beloit in a research report on Tuesday, January 8th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $88.75.
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About Regal Beloit
Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and power transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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