Northwestern Mutual Investment Management Company LLC grew its stake in shares of Regal Beloit Corporation (NYSE:RBC) by 0.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,722 shares of the industrial products company’s stock after purchasing an additional 3 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Regal Beloit Corporation were worth $425,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in RBC. Envestnet Asset Management Inc. boosted its stake in shares of Regal Beloit Corporation by 5.6% during the first quarter. Envestnet Asset Management Inc. now owns 2,514 shares of the industrial products company’s stock valued at $191,000 after purchasing an additional 134 shares during the period. World Asset Management Inc purchased a new stake in shares of Regal Beloit Corporation during the first quarter valued at approximately $207,000. Synovus Financial Corp boosted its stake in shares of Regal Beloit Corporation by 4.4% during the second quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 110 shares during the period. Elkfork Partners LLC boosted its stake in shares of Regal Beloit Corporation by 47.7% during the first quarter. Elkfork Partners LLC now owns 2,860 shares of the industrial products company’s stock valued at $216,000 after purchasing an additional 924 shares during the period. Finally, Airain ltd purchased a new stake in shares of Regal Beloit Corporation during the second quarter valued at approximately $224,000. 92.17% of the stock is owned by hedge funds and other institutional investors.
Regal Beloit Corporation (RBC) opened at 77.05 on Friday. The company’s 50 day moving average price is $77.80 and its 200-day moving average price is $78.66. Regal Beloit Corporation has a one year low of $56.45 and a one year high of $87.50. The company has a market cap of $3.44 billion, a P/E ratio of 17.01 and a beta of 1.52.
Regal Beloit Corporation (NYSE:RBC) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.01. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. The company had revenue of $869.20 million during the quarter, compared to analysts’ expectations of $854.66 million. During the same quarter in the previous year, the business earned $1.14 EPS. Regal Beloit Corporation’s revenue was up 3.6% compared to the same quarter last year. On average, analysts forecast that Regal Beloit Corporation will post $4.86 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Thursday, September 28th. Regal Beloit Corporation’s payout ratio is currently 22.96%.
A number of analysts have recently weighed in on the company. Zacks Investment Research lowered Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub lowered Regal Beloit Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Stifel Nicolaus restated a “hold” rating and set a $85.00 target price on shares of Regal Beloit Corporation in a report on Tuesday, August 22nd. Finally, Jefferies Group LLC restated a “hold” rating and set a $80.00 target price on shares of Regal Beloit Corporation in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $83.00.
In related news, Director Henry W. Knueppel sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total transaction of $1,700,000.00. Following the completion of the transaction, the director now owns 3,726 shares in the company, valued at approximately $316,710. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.20% of the stock is owned by insiders.
TRADEMARK VIOLATION WARNING: “Northwestern Mutual Investment Management Company LLC Has $425,000 Stake in Regal Beloit Corporation (RBC)” was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this piece on another domain, it was copied illegally and reposted in violation of international copyright & trademark laws. The legal version of this piece can be accessed at https://www.chaffeybreeze.com/2017/09/16/northwestern-mutual-investment-management-company-llc-has-425000-stake-in-regal-beloit-corporation-rbc.html.
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.
Want to see what other hedge funds are holding RBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regal Beloit Corporation (NYSE:RBC).
Receive News & Ratings for Regal Beloit Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Beloit Corporation and related companies with MarketBeat.com's FREE daily email newsletter.