Regal Beloit Corporation (NYSE:RBC) Stock Rating Reaffirmed by Jefferies Group LLC

Jefferies Group LLC reiterated their hold rating on shares of Regal Beloit Corporation (NYSE:RBC) in a research report released on Friday, July 14th. They currently have a $80.00 price target on the industrial products company’s stock.

A number of other research firms also recently weighed in on RBC. Zacks Investment Research downgraded shares of Regal Beloit Corporation from a buy rating to a hold rating in a research report on Monday, June 5th. Credit Suisse Group reaffirmed a buy rating and set a $88.00 price objective on shares of Regal Beloit Corporation in a research report on Thursday, June 29th. BidaskClub raised shares of Regal Beloit Corporation from a hold rating to a buy rating in a research report on Tuesday, July 11th. CIBC raised shares of Regal Beloit Corporation from a market perform rating to an outperform rating in a research report on Friday, May 5th. Finally, Wolfe Research initiated coverage on shares of Regal Beloit Corporation in a research report on Tuesday, July 11th. They issued a market perform rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $83.00.

Shares of Regal Beloit Corporation (NYSE:RBC) opened at 78.85 on Friday. The company’s 50-day moving average is $82.93 and its 200-day moving average is $78.39. Regal Beloit Corporation has a 12 month low of $56.45 and a 12 month high of $87.50. The stock has a market capitalization of $3.52 billion, a PE ratio of 17.41 and a beta of 1.52.

Regal Beloit Corporation (NYSE:RBC) last released its earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The business had revenue of $869.20 million during the quarter, compared to the consensus estimate of $854.66 million. Regal Beloit Corporation had a net margin of 6.29% and a return on equity of 9.88%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. Equities research analysts expect that Regal Beloit Corporation will post $4.87 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, September 28th. Regal Beloit Corporation’s payout ratio is 22.96%.

In related news, Director Henry W. Knueppel sold 10,000 shares of Regal Beloit Corporation stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $82.00, for a total value of $820,000.00. Following the completion of the sale, the director now owns 3,726 shares of the company’s stock, valued at approximately $305,532. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Henry W. Knueppel sold 20,000 shares of Regal Beloit Corporation stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $85.00, for a total value of $1,700,000.00. Following the transaction, the director now directly owns 3,726 shares of the company’s stock, valued at approximately $316,710. The disclosure for this sale can be found here. Insiders have sold a total of 33,663 shares of company stock worth $2,813,040 over the last quarter. Company insiders own 2.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tyers Asset Management LLC raised its position in Regal Beloit Corporation by 47.7% in the first quarter. Tyers Asset Management LLC now owns 2,080 shares of the industrial products company’s stock worth $157,000 after buying an additional 672 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of 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. World Asset Management Inc acquired a new position in shares of Regal Beloit Corporation during the first quarter valued at approximately $207,000. Synovus Financial Corp raised its position in shares of Regal Beloit Corporation by 4.4% in the second quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock valued at $209,000 after buying an additional 110 shares during the last quarter. Finally, Elkfork Partners LLC raised its position in shares of Regal Beloit Corporation by 47.7% in the first quarter. Elkfork Partners LLC now owns 2,860 shares of the industrial products company’s stock valued at $216,000 after buying an additional 924 shares during the last quarter. 93.70% of the stock is owned by institutional investors and hedge funds.

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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