Regal Beloit Corp Announces Quarterly Dividend of $0.28 (RBC)

Regal Beloit Corp (NYSE:RBC) announced a quarterly dividend on Monday, July 23rd, RTT News reports. Stockholders of record on Friday, September 28th will be paid a dividend of 0.28 per share by the industrial products company on Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, September 27th.

Regal Beloit has increased its dividend by an average of 6.0% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Regal Beloit has a payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Regal Beloit to earn $6.54 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 17.1%.

Shares of RBC opened at $84.60 on Wednesday. The firm has a market cap of $3.69 billion, a PE ratio of 17.37, a P/E/G ratio of 1.44 and a beta of 1.52. Regal Beloit has a 12-month low of $67.84 and a 12-month high of $86.75. The company has a quick ratio of 1.22, a current ratio of 2.24 and a debt-to-equity ratio of 0.53.

Regal Beloit (NYSE:RBC) last released its quarterly earnings data on Monday, August 6th. The industrial products company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.01. The firm had revenue of $959.70 million during the quarter, compared to the consensus estimate of $953.65 million. Regal Beloit had a return on equity of 10.30% and a net margin of 6.77%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. analysts predict that Regal Beloit will post 5.92 EPS for the current year.

In other Regal Beloit news, Director Christopher L. Doerr sold 6,085 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $81.43, for a total value of $495,501.55. Following the completion of the transaction, the director now directly owns 17,900 shares in the company, valued at $1,457,597. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

RBC has been the subject of several recent research reports. Zacks Investment Research upgraded Regal Beloit from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Wednesday, August 8th. BMO Capital Markets lifted their price objective on Regal Beloit from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, August 8th. Finally, Wolfe Research initiated coverage on Regal Beloit in a report on Wednesday, June 27th. They issued an “outperform” rating and a $97.00 price objective for the company. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $89.00.

Regal Beloit Company Profile

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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Dividend History for Regal Beloit (NYSE:RBC)

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