Retirement Systems of Alabama boosted its holdings in Regal Beloit Corp (NYSE:RBC) by 104.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,930 shares of the industrial products company’s stock after acquiring an additional 60,387 shares during the quarter. Retirement Systems of Alabama’s holdings in Regal Beloit were worth $9,033,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in RBC. State Street Corp raised its position in Regal Beloit 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 acquiring an additional 24,844 shares in the last quarter. Alpha Windward LLC purchased a new position in Regal Beloit in the third quarter worth $483,000. Fisher Asset Management LLC raised its position in Regal Beloit by 2.2% in the third quarter. Fisher Asset Management LLC now owns 642,326 shares of the industrial products company’s stock worth $50,744,000 after acquiring an additional 13,942 shares in the last quarter. Meeder Asset Management Inc. raised its position in Regal Beloit by 37.9% in the third quarter. Meeder Asset Management Inc. now owns 20,032 shares of the industrial products company’s stock worth $1,582,000 after acquiring an additional 5,507 shares in the last quarter. Finally, Oakbrook Investments LLC purchased a new position in Regal Beloit in the third quarter worth $261,000. Hedge funds and other institutional investors own 94.81% of the company’s stock.
Shares of Regal Beloit Corp (NYSE:RBC) opened at $74.70 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.21 and a quick ratio of 1.15. The firm has a market capitalization of $3,309.51, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. Regal Beloit Corp has a twelve month low of $71.05 and a twelve month high of $87.50.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.39%. The ex-dividend date is Wednesday, March 28th. Regal Beloit’s dividend payout ratio (DPR) is 21.94%.
Several research analysts have issued reports on the company. Seaport Global Securities upgraded Regal Beloit from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $82.00 to $88.00 in a research report on Wednesday, February 7th. Zacks Investment Research cut Regal Beloit from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. BMO Capital Markets cut their price objective on Regal Beloit from $88.00 to $85.00 and set a “market perform” rating for the company in a research report on Tuesday, November 7th. Barclays assumed coverage on Regal Beloit in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $80.00 price objective for the company. Finally, ValuEngine upgraded Regal Beloit from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. Regal Beloit has an average rating of “Buy” and an average price target of $86.08.
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Regal Beloit 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.
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