Regal Beloit Corporation (NYSE:RBC) Given “Hold” Rating at Jefferies Group LLC

Jefferies Group LLC reissued their hold rating on shares of Regal Beloit Corporation (NYSE:RBC) in a report published on Friday. They currently have a $80.00 target price on the industrial products company’s stock.

Other analysts have also issued reports about the company. Zacks Investment Research lowered Regal Beloit Corporation from a buy rating to a hold rating in a report on Monday, June 5th. Credit Suisse Group reiterated a buy rating and set a $88.00 price objective on shares of Regal Beloit Corporation in a report on Thursday, June 29th. BidaskClub upgraded Regal Beloit Corporation from a hold rating to a buy rating in a report on Tuesday, July 11th. CIBC upgraded Regal Beloit Corporation from a market perform rating to an outperform rating in a report on Friday, May 5th. Finally, Wolfe Research assumed coverage on Regal Beloit Corporation in a report on Tuesday, July 11th. They set a market perform rating for the company. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $79.57.

Regal Beloit Corporation (RBC) traded up 0.06% during midday trading on Friday, reaching $84.20. The company’s stock had a trading volume of 110,635 shares. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 18.26 and a beta of 1.51. Regal Beloit Corporation has a 12 month low of $56.45 and a 12 month high of $85.85. The stock’s 50-day moving average price is $80.02 and its 200-day moving average price is $75.83.

Regal Beloit Corporation (NYSE:RBC) last released its earnings results on Monday, May 8th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.12. The company had revenue of $813.50 million during the quarter, compared to analyst estimates of $807.40 million. Regal Beloit Corporation had a return on equity of 9.80% and a net margin of 6.46%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. Analysts predict that Regal Beloit Corporation will post $4.86 EPS for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.24%. This is an increase from Regal Beloit Corporation’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, June 28th. Regal Beloit Corporation’s dividend payout ratio is presently 22.56%.

In other Regal Beloit Corporation news, Director Henry W. Knueppel sold 10,800 shares of the stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $80.03, for a total transaction of $864,324.00. Following the transaction, the director now directly owns 4,326 shares of the company’s stock, valued at $346,209.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Henry W. Knueppel sold 20,000 shares of the 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 transaction, the director now directly owns 3,726 shares in the company, valued at $316,710. The disclosure for this sale can be found here. Insiders have sold 44,463 shares of company stock worth $3,677,364 over the last three months. Company insiders own 2.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in Regal Beloit Corporation by 0.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,380 shares of the industrial products company’s stock valued at $165,000 after buying an additional 11 shares during the last quarter. Ronald Blue & Co. LLC increased its position in Regal Beloit Corporation by 0.4% in the first quarter. Ronald Blue & Co. LLC now owns 4,552 shares of the industrial products company’s stock valued at $344,000 after buying an additional 16 shares during the last quarter. US Bancorp DE increased its position in Regal Beloit Corporation by 2.6% in the first quarter. US Bancorp DE now owns 6,403 shares of the industrial products company’s stock valued at $484,000 after buying an additional 160 shares during the last quarter. Advantus Capital Management Inc increased its position in Regal Beloit Corporation by 3.1% in the first quarter. Advantus Capital Management Inc now owns 5,734 shares of the industrial products company’s stock valued at $434,000 after buying an additional 171 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in Regal Beloit Corporation by 4.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 4,240 shares of the industrial products company’s stock valued at $321,000 after buying an additional 192 shares during the last quarter. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

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.

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