Regal Beloit Corp (NYSE:RBC) Stock Position Reduced by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in shares of Regal Beloit Corp (NYSE:RBC) by 3.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,211 shares of the industrial products company’s stock after selling 2,622 shares during the period. New York State Teachers Retirement System owned about 0.19% of Regal Beloit worth $6,554,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Keeley Teton Advisors LLC grew its position in Regal Beloit by 0.6% in the first quarter. Keeley Teton Advisors LLC now owns 19,875 shares of the industrial products company’s stock worth $1,627,000 after acquiring an additional 120 shares in the last quarter. Synovus Financial Corp grew its position in Regal Beloit by 2.9% in the first quarter. Synovus Financial Corp now owns 5,215 shares of the industrial products company’s stock worth $431,000 after acquiring an additional 149 shares in the last quarter. Mason Street Advisors LLC grew its position in Regal Beloit by 0.7% in the first quarter. Mason Street Advisors LLC now owns 22,753 shares of the industrial products company’s stock worth $1,863,000 after acquiring an additional 155 shares in the last quarter. Twin Capital Management Inc. grew its position in Regal Beloit by 0.3% in the first quarter. Twin Capital Management Inc. now owns 54,720 shares of the industrial products company’s stock worth $4,480,000 after acquiring an additional 180 shares in the last quarter. Finally, Menta Capital LLC grew its position in Regal Beloit by 2.2% in the first quarter. Menta Capital LLC now owns 9,100 shares of the industrial products company’s stock worth $745,000 after acquiring an additional 200 shares in the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE RBC traded down $0.82 during trading hours on Friday, hitting $76.82. 258,169 shares of the stock were exchanged, compared to its average volume of 214,105. The company has a quick ratio of 1.53, a current ratio of 2.71 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $80.58. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 1.26 and a beta of 1.58. Regal Beloit Corp has a one year low of $66.04 and a one year high of $87.31.

Regal Beloit (NYSE:RBC) last posted its quarterly earnings data on Monday, May 6th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.02. The business had revenue of $853.80 million during the quarter, compared to the consensus estimate of $882.61 million. Regal Beloit had a net margin of 7.15% and a return on equity of 11.24%. Regal Beloit’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 EPS. On average, analysts anticipate that Regal Beloit Corp will post 6.31 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Thursday, September 26th. Regal Beloit’s dividend payout ratio is currently 20.00%.

Several analysts have commented on the stock. Royal Bank of Canada reissued a “hold” rating on shares of Regal Beloit in a research report on Tuesday, May 7th. Zacks Investment Research raised shares of Regal Beloit from a “sell” rating to a “hold” rating and set a $82.00 target price for the company in a research report on Monday, June 10th. Finally, BMO Capital Markets decreased their target price on shares of Regal Beloit from $95.00 to $93.00 and set a “market perform” rating for the company in a research report on Wednesday, May 8th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average 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 transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.

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Institutional Ownership by Quarter for Regal Beloit (NYSE:RBC)

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