Deprince Race & Zollo Inc. reduced its stake in shares of Regal Beloit Corp (NYSE:RBC) by 31.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,710 shares of the industrial products company’s stock after selling 6,715 shares during the period. Deprince Race & Zollo Inc.’s holdings in Regal Beloit were worth $1,213,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. World Asset Management Inc acquired a new position in Regal Beloit during the 2nd quarter worth $205,000. Robeco Institutional Asset Management B.V. acquired a new position in Regal Beloit during the 2nd quarter worth $216,000. Regentatlantic Capital LLC lifted its position in shares of Regal Beloit by 22.9% in the 2nd quarter. Regentatlantic Capital LLC now owns 3,705 shares of the industrial products company’s stock worth $303,000 after buying an additional 690 shares during the last quarter. Balter Liquid Alternatives LLC bought a new position in shares of Regal Beloit in the 2nd quarter worth about $356,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Regal Beloit by 38.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,850 shares of the industrial products company’s stock worth $396,000 after buying an additional 1,350 shares during the last quarter. 93.06% of the stock is owned by institutional investors.
A number of research analysts have recently issued reports on RBC shares. Wolfe Research started coverage on shares of Regal Beloit in a research report on Wednesday, June 27th. They issued an “outperform” rating and a $97.00 price target on the stock. Zacks Investment Research downgraded shares of Regal Beloit from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 10th. BMO Capital Markets raised their price target on shares of Regal Beloit from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 8th. Finally, Goldman Sachs Group started coverage on shares of Regal Beloit in a research report on Wednesday, October 3rd. They issued a “buy” rating and a $95.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $90.25.
Regal Beloit stock opened at $76.93 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 2.24. Regal Beloit Corp has a 1 year low of $67.84 and a 1 year high of $86.75. The stock has a market capitalization of $3.58 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.39 and a beta of 1.50.
Regal Beloit (NYSE:RBC) last posted its quarterly earnings results on Monday, August 6th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.01. Regal Beloit had a net margin of 6.77% and a return on equity of 10.30%. The company had revenue of $959.70 million for the quarter, compared to the consensus estimate of $953.65 million. During the same period last year, the firm posted $1.29 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, research analysts expect that Regal Beloit Corp will post 5.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.46%. Regal Beloit’s payout ratio is currently 23.00%.
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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