Regal Beloit Corp (RBC) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System decreased its stake in Regal Beloit Corp (NYSE:RBC) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,993 shares of the industrial products company’s stock after selling 6,044 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of Regal Beloit worth $6,003,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RBC. Pinebridge Investments L.P. acquired a new position in Regal Beloit during the third quarter worth about $204,000. Synovus Financial Corp boosted its position in Regal Beloit by 4.4% during the second quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock worth $209,000 after acquiring an additional 110 shares during the last quarter. Airain ltd acquired a new position in Regal Beloit during the second quarter worth about $224,000. M&T Bank Corp acquired a new position in Regal Beloit during the second quarter worth about $237,000. Finally, Bridgewater Associates LP acquired a new position in Regal Beloit during the second quarter worth about $248,000. Institutional investors and hedge funds own 93.81% of the company’s stock.

Regal Beloit Corp (NYSE:RBC) opened at $76.60 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.22 and a current ratio of 2.22. Regal Beloit Corp has a 52 week low of $68.30 and a 52 week high of $87.50. The company has a market cap of $3,430.00, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.43 and a beta of 1.48.

Regal Beloit (NYSE:RBC) last issued its earnings results on Monday, November 6th. The industrial products company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). Regal Beloit had a return on equity of 9.76% and a net margin of 6.28%. The firm had revenue of $857.00 million for the quarter, compared to analysts’ expectations of $837.19 million. During the same period last year, the firm earned $1.31 earnings per share. Regal Beloit’s revenue for the quarter was up 5.9% on a year-over-year basis. equities analysts predict that Regal Beloit Corp will post 4.87 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, December 28th. Regal Beloit’s dividend payout ratio (DPR) is presently 22.61%.

A number of equities analysts recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of Regal Beloit from $88.00 to $85.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 7th. Morgan Stanley boosted their price target on shares of Regal Beloit from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Monday, October 2nd. ValuEngine upgraded shares of Regal Beloit from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. Royal Bank of Canada restated a “buy” rating on shares of Regal Beloit in a research report on Monday, November 6th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $88.00 target price on shares of Regal Beloit in a research note on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $86.63.

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About Regal Beloit

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 (NYSE:RBC)

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